GTPL Hathway Limited announced its financial results for Q3 FY26, demonstrating steady growth across key business segments. The company, which operates as India's largest digital cable TV service provider and a leading broadband service provider, reported consolidated revenue of ₹9,382 million for the quarter ended December 31, 2025.

Financial Performance Overview

The company's financial metrics for Q3 FY26 reflect consistent operational performance with notable improvements in profitability measures.

The company achieved an EBITDA of ₹1,189 million with a margin of 12.7%, while the operating EBITDA margin improved to 23.9%. Profit before tax increased by 14% year-on-year, with profit after tax reaching ₹111 million.

Business Segment Performance

Digital Cable TV Operations

The digital cable TV segment maintained a substantial subscriber base despite competitive market conditions. As of December 31, 2025, active subscribers stood at 9.40 million, with paying subscribers at 8.70 million. Subscription revenue from cable TV was ₹2,970 million for Q3 FY26.

Broadband Services Growth

The broadband segment demonstrated positive momentum with subscriber growth and revenue expansion:

Broadband revenue increased by 4% year-on-year to ₹1,433 million, with average revenue per user standing at ₹465 per month per subscriber. Average data consumption per user reached 410 GB monthly, representing a 12% year-on-year increase.

Strategic Initiative: GTPL Infinity Platform

The company launched GTPL Infinity, a satellite-based HITS (Headend-In-The-Sky) platform designed for nationwide television signal distribution. This platform is supported by one of the world's largest C-band teleport facilities located in Ahmedabad, enabling scalable, cost-efficient, and high-quality content delivery. The platform allows partners to go live within 24 hours and delivers nearly 800 channels with high reliability.

Management Commentary

Managing Director Anirudhsinh Jadeja highlighted the company's strategic evolution beyond traditional services. He emphasized the integration of value-added services such as OTT, gaming, and TV Everywhere offerings, available as standalone or bundled formats to address changing content consumption preferences. The management noted the resilience of the operating model and continued customer trust in the competitive environment.

Company Profile and Network Reach

GTPL Hathway Limited operates as India's largest MSO providing digital cable TV services and ranks among the largest private wireline broadband service providers. The company serves over 1,500 towns across 26 states and 4 union territories. Its network comprises 48,000+ business partners, 200+ broadcasters, 1,750+ enterprise clients, and participation in 30+ government projects. The company offers 975+ TV channels, including 130+ GTPL owned and operated platform services.

GTPL Hathway Limited has announced its unaudited financial results for the quarter and nine months ended December 31, 2025, showing mixed performance across its business segments. The company's Board of Directors approved the results at their meeting held on January 12, 2026, following review and recommendation by the Audit Committee.

Financial Performance Overview

The company's consolidated financial results demonstrate revenue growth in the third quarter of FY26. Total income reached ₹9,381.63 crores compared to ₹8,956.80 crores in the same quarter of the previous year.

Nine-Month Performance

For the nine months ended December 31, 2025, the company showed strong performance with consolidated revenue from operations of ₹27,953.73 crores compared to ₹25,862.08 crores in the corresponding period of the previous year.

Segment-wise Performance

The company operates across three main business segments, with Cable TV Business forming the largest revenue contributor:

Q3 FY26 Segment Revenue:

• Cable TV Business: ₹7,745.51 crores
• Internet Service: ₹1,441.25 crores
• Projects (Including O&M): ₹183.37 crores

Segment Results (PBT):

• Internet Service showed strong profitability with ₹141.39 crores
• Projects segment contributed ₹40.98 crores
• Cable TV Business reported negative result of ₹29.96 crores

Regulatory Challenges

The company faces significant regulatory challenges with the Department of Telecommunications (DoT) demanding license fees totaling ₹9,754.15 crores. This includes a principal amount of ₹2,286.50 crores and related interest, penalty, and interest on penalty of ₹7,467.65 crores towards license fee by including revenue from cable television business.

Additionally, GTPL Broadband Private Limited, a subsidiary, faces demands aggregating to ₹3,568.71 crores related to license fees on pure internet services. The company maintains that these demands are being contested through various legal proceedings and has not made provisions, treating them as contingent liabilities.

Standalone Results

On a standalone basis, GTPL Hathway reported revenue from operations of ₹6,100.30 crores for Q3FY26 compared to ₹5,561.62 crores in Q3FY25. Net profit after tax on standalone basis was ₹9.06 crores for the quarter.

The company's paid-up equity share capital remains at ₹1,124.63 crores with a face value of ₹10 per share. The results were subject to limited review by statutory auditors Deloitte Haskins & Sells.