GTPL Hathway LimitedQuarter Ended September 30, 2026 Results & Financial Update
GTPL Hathway Limited: Quarter Ended September 30, 2026 consolidated results and company financials – revenue ₹1,143.06 Cr, PAT ₹-3.55 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceReported figures and period changes.Changes compare like-for-like reported periods where available.
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Quarterly Results AnalysisExplore GTPL Hathway Quarter Ended September 30, 2026 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
GTPL Hathway Limited reported consolidated revenue from operations of INR 1,143.055 crore for the quarter ended September 30, 2026, marking a 19.19% expansion compared to INR 959.053 crore in the corresponding period of the previous year, alongside a sequential rise from INR 1,015.407 crore in the June 2026 quarter.
Total consolidated income reached INR 1,146.414 crore for Q2 FY27, compared with INR 964.934 crore in Q2 FY26 and INR 1,019.893 crore in Q1 FY27.
Bottom-line performance reflected a consolidated net loss after tax of INR 3.548 crore for the quarter, contrasting with a net profit of INR 7.397 crore in the same period last year and INR 1.377 crore in the preceding quarter. Basic and diluted earnings per share for the quarter stood at INR -0.08.
Operating expenses expanded alongside business scale, totaling INR 1,150.366 crore for the quarter under review, driven by higher operational costs, increased finance expenses of INR 12.283 crore, and depreciation and amortisation charges of INR 101.928 crore.
Active digital cable television subscribers reached 11 million as of September 30, 2026, representing an addition of 1.5 million year-on-year, with paying subscribers standing at 10.3 million. Cable TV subscription revenue grew 14% year-on-year to INR 345.50 crore.
Broadband subscribers stood at 1.07 million, supported by a homepass footprint of 6 million homes of which approximately 75% are accessible for FTTX conversion. Broadband ARPU was reported at INR 470 per month per subscriber, while average data consumption touched 436 GB per user per month.
Management completed the acquisition of the Cable Television Business from entities belonging to the ACT Group under a Business Transfer Agreement effective July 1, 2026, adding approximately 600,000 subscribers across southern and eastern Indian markets.
01 · Business model
What does GTPL Hathway do?
GTPL Hathway Limited operates as India's largest Multi System Operator (MSO) for Digital Cable Television services and stands as a prominent private wireline broadband service provider. Its operational footprint spans across 1,600 towns over 26 States and 5 Union Territories, holding leadership positions in regional markets such as Gujarat and West Bengal.
The revenue model relies primarily on two core pillars: Digital Cable TV subscription services and broadband internet connectivity. The ecosystem includes over 51,000 business partners, collaborations with more than 200 broadcasters, 1,750 enterprise clients, and engagement across 30 government projects.
Offering a diverse media portfolio featuring upwards of 975 TV channels—inclusive of more than 130 GTPL-owned and operated platform services—the company also deploys its GTPL Infinity Headend-in-the-Sky (HITS) platform powered by the Telkom-4 satellite and backed by an Ahmedabad C-Band teleport.
Strategic expansion continues through targeted business combinations and subsidiary buyouts, notably incorporating cable operations from the ACT Group during the quarter to strengthen market presence across Andhra Pradesh, Telangana, Odisha, and Karnataka.
02 · Historical context
What shaped the business before this quarter
Previously, the company introduced GTPL Infinity, its Headend-in-the-Sky (HITS) platform powered by the Telkom-4 satellite and supported by a C-Band teleport in Ahmedabad to deliver approximately 800 channels nationwide.
03 · Financial snapshot
Current quarter vs the two useful baselines
| Metric | Quarter Ended September 30, 2026 | Year-ago | Previous quarter |
|---|---|---|---|
| Revenue from operations | ₹1,143.06 Cr | ₹959.05 Cr | ₹1,015.41 Cr |
| Total income | ₹1,146.41 Cr | ₹964.93 Cr | ₹1,019.89 Cr |
| Profit before tax | ₹-3.84 Cr | ₹10.78 Cr | ₹2.88 Cr |
| Profit after tax | ₹-3.55 Cr | ₹7.40 Cr | ₹1.38 Cr |
| EPS | ₹-0.08 | ₹0.82 | ₹0.21 |
Accounting clarification: the consolidated net loss of ₹3.548 crore includes non-controlling interests. The loss attributable to equity shareholders of GTPL Hathway was approximately ₹0.93 crore; basic and diluted EPS of −₹0.08 is based on parent-attributable earnings, not the full group loss.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Subscription revenue from Cable TV reached INR 345.50 crore for Q2 FY27, supported by a 16% year-on-year increase in active subscribers to 11 million and a 17% increase in paying subscribers to 10.3 million.
Broadband revenue grew by 5% year-on-year to INR 145.90 crore, bolstered by steady user engagement with average monthly data consumption per user rising 6% year-on-year to 436 GB and ARPU standing at INR 470.
What drove margins
Operating expenses increased during the quarter to INR 882.186 crore at the consolidated level, reflecting network expansion, servicing costs, and integration activities associated with acquired operations.
Depreciation and amortisation expenses rose to INR 101.928 crore for Q2 FY27 from INR 90.876 crore in Q2 FY26, while finance costs increased to INR 12.283 crore compared to INR 8.715 crore in the year-ago period.
05 · Demand, customers & order book
Where demand is coming from
Active digital cable TV subscribers reached 11 million as of September 30, 2026, reflecting a year-on-year increase of 1.5 million. Broadband subscribers stood at 1.07 million.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Internet Service generated revenue of INR 146.465 crore in Q2 FY27, compared to INR 143.197 crore in the preceding quarter and INR 140.114 crore in Q2 FY26, registering a segment result profit of INR 1.468 crore.
Projects and O&M operations contributed segment revenue of INR 19.655 crore with a segment result profit of INR 3.802 crore for the quarter ended September 30, 2026.
Geography and market mix
The company maintains its position as the largest Digital Cable TV and wireline broadband service provider in Gujarat and a prominent operator in West Bengal.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
Broadband homepass footprint stood at 6 million homes as of September 30, 2026, reflecting an addition of 50,000 year-on-year, with approximately 75% of homepasses available for FTTX conversion.
The GTPL Infinity HITS platform operates via a C-Band teleport in Ahmedabad linked to the Telkom-4 satellite, delivering approximately 800 channels including ~100 HD channels across India.
08 · Strategy & new businesses
How the company is trying to change its growth mix
The company completed the acquisition of the Cable Television Business from entities belonging to the ACT Group via a Business Transfer Agreement effective July 1, 2026, for a cash consideration of INR 355.54 million, adding ~6 lakh subscribers.
The Board approved the acquisition of the remaining 74% equity stake (88,800 shares) in subsidiary DL GTPL Cabnet Private Limited for INR 8.325 crore, making it a wholly owned subsidiary.
09 · Reported developments
What changed operationally
Active digital cable TV subscribers crossed 11 million, backed by a 16% year-on-year increase, while paying subscribers reached 10.3 million.
Successful completion of the ACT Group cable business transaction expanded the subscriber base by ~600,000 across southern and eastern states.
10 · Pressure points & risks
What is not going smoothly
The company recorded a consolidated net loss after tax of INR 3.548 crore for Q2 FY27 compared to a net profit of INR 7.397 crore in Q2 FY26, alongside higher operating, depreciation, and finance costs.
Contingent liabilities persist regarding Department of Telecommunications (DoT) demands for license fees on cable television and ISP operations, including INR 9,754.15 million on the parent company and subsidiary-level demands.
11 · Beyond the numbers
What changed beyond the numbers
Reported update
DL GTPL Cabnet Buyout
The Board of Directors approved the acquisition of the remaining 74% equity shares of DL GTPL Cabnet Private Limited for INR 8.325 crore to consolidate business operations.
Reported update
ACT Group Business Transfer Agreement
The acquisition of the Cable Television Business from the ACT Group was accounted for using the acquisition method under Ind AS 103 effective July 1, 2026.
12 · Previous-quarter changes
What changed since the previous quarter
Consolidated revenue from operations increased sequentially to INR 1,143.055 crore in Q2 FY27 from INR 1,015.407 crore in Q1 FY27.
Net profit transitioned from INR 1.377 crore in Q1 FY27 to a net loss of INR 3.548 crore in Q2 FY27.
13 · Key Q&A
The quarter, answered directly
What does GTPL Hathway do?
GTPL Hathway Limited operates as India's largest Multi System Operator (MSO) for Digital Cable Television services and stands as a prominent private wireline broadband service provider. Its operational footprint spans across 1,600 towns over 26 States and 5 Union Territories, holding leadership positions in regional markets such as Gujarat and West Bengal.
What is the clearest takeaway from Quarter Ended September 30, 2026?
GTPL Hathway Limited reported consolidated revenue from operations of INR 1,143.055 crore for the quarter ended September 30, 2026, marking a 19.19% expansion compared to INR 959.053 crore in the corresponding period of the previous year, alongside a sequential rise from INR 1,015.407 crore in the June 2026 quarter.
What drove revenue or demand?
Subscription revenue from Cable TV reached INR 345.50 crore for Q2 FY27, supported by a 16% year-on-year increase in active subscribers to 11 million and a 17% increase in paying subscribers to 10.3 million.
What mattered most for margins or profitability?
Operating expenses increased during the quarter to INR 882.186 crore at the consolidated level, reflecting network expansion, servicing costs, and integration activities associated with acquired operations.
What changed operationally beyond the headline numbers?
Broadband homepass footprint stood at 6 million homes as of September 30, 2026, reflecting an addition of 50,000 year-on-year, with approximately 75% of homepasses available for FTTX conversion.
What are the main pressure points disclosed for the quarter?
The company recorded a consolidated net loss after tax of INR 3.548 crore for Q2 FY27 compared to a net profit of INR 7.397 crore in Q2 FY26, alongside higher operating, depreciation, and finance costs.
14 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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15 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Integration of Acquired Operations: Progress on the operational integration of the ACT Group cable business and DL GTPL Cabnet Private Limited.
- 02
Regulatory and Legal Proceedings: Developments concerning DoT license fee disputes and pending TDSAT and Supreme Court litigations.
- 03
Broadband FTTX Conversion: Execution of homepass conversion to FTTX services across the 6 million homepass footprint.
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