GTPL Hathway Slumps 12% on Posting Net Loss in Q4, EBITDA Margin Falls

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GTPL Hathway Slumps 12% on Posting Net Loss in Q4, EBITDA Margin Falls
Credit: © Reuters.

By Malvika Gurung -- Shares of the internet service provider GTPL Hathway (NS: GTPH ) slumped 12.4% to Rs 98.65 apiece on Monday, nearing the 52-week low level of Rs 93.75 achieved on March 28, 2023.

The small-cap company released its earnings result for the March 2023 quarter on Saturday, posting a net loss of Rs 11.75 crore in the period, plummeting 121.57% YoY from a net profit of Rs 54.47 crore in the same quarter last year.

GTPL Hathway’s revenue from operations rose 12.2% YoY to Rs 692.42 crore in Q4 FY23, while total expenses surged 24.3% YoY to Rs 692.9 crore in the quarter.

Its EBITDA fell 20.6% YoY to Rs 111.2 crore from Rs 140 crore in the year-ago period and the EBITDA margin in the fourth quarter of FY23 declined 15.9% YoY to 22.5% in the period.

In the financial year ended March 31, 2023, GTPL Hathway’s consolidated net profit tumbled 42.9% YoY to Rs 113.94 crore despite its revenue rising by 10.3% YoY to Rs 2,663.92 crore in the year.

Its broadband ARPU increased by Rs 10 annually to Rs 460 in FY23, while the company’s Board recommended a dividend of 40% or Rs 4/share for the financial year.

“Our Broadband business continues to show healthy growth, both in terms of subscribers and ARPU. Our focus and commitment to expanding the Broadband business are expected to achieve the desired results in the coming years,” said Anirudhsinh Jadeja, the Managing Director of GTPL Hathway.

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