GTPL Hathway , India's largest Multi-System Operator (MSO), reported a 12% year-on-year increase in consolidated revenue to INR 9,649.00 million for Q2 FY26, despite facing challenges in subscriber retention. The company's digital cable TV subscriber base declined to 9.50 million from 9.60 million in the previous quarter, while maintaining 8.80 million paying subscribers.

Financial Highlights

• Consolidated revenue grew by 12% year-on-year and 6% quarter-on-quarter to INR 9,649.00 million
• Subscription revenue stood at INR 3,024.00 million
• Broadband revenue reached INR 1,393.00 million, showing a 2% growth both yearly and sequentially
• Consolidated EBITDA was INR 1,101.00 million with an 11.4% margin
• Net profit for Q2 FY26 was INR 93.00 million
• Consolidated operating EBITDA was INR 1,016.00 million, with a 22% operating margin

Operational Performance

GTPL Hathway faced challenges in subscriber retention during Q2 FY26, which management attributed to excessive rainfall across the country and a lack of major sporting events during the quarter. However, the company maintained its broadband subscriber base at 1.05 million, adding 10,000 new subscribers, representing a 1% increase year-on-year.

Broadband Segment

• Broadband ARPU increased to INR 465.00, up INR 5.00 from the previous year
• Average data consumption per month rose to 410 GB, a 17% increase year-on-year
• Homepass stood at 5.95 million, with 75% available for FTTX

Strategic Initiatives

GTPL Hathway is preparing to launch its Headend-In-The-Sky (HITS) platform in Q3, which is expected to enhance distribution capabilities and reach. The company continues to focus on bundling Cable, Broadband, and OTT offerings, as well as expanding into new geographies to increase its total addressable market.

Management Commentary

Piyush Pankaj, Business Head and Chief Strategy Officer, commented on the quarter's performance: "This quarter was marked by sustained operational performance and reaffirmation of our leadership position in both Digital Cable TV and Broadband Services. As India's largest MSO, our focus continues to be on expanding our footprint, enhancing customer experience, and delivering value through innovation and service excellence."

Future Outlook

Despite the temporary setback in subscriber numbers, management expressed optimism for recovery in Q3 and Q4, citing the commencement of major sporting events and the end of the monsoon season. The company plans to maintain its competitive edge in the OTT space and leverage new technologies to expand its reach across India.

GTPL Hathway remains committed to its growth strategy, focusing on both organic and inorganic opportunities to drive sustainable growth across its core business segments. With the upcoming launch of the HITS platform and continued efforts in bundling services, the company aims to strengthen its position in the Indian cable TV and broadband market.

GTPL Hathway Limited , India's largest Digital Cable TV Service Provider and a leading Broadband Service provider, has announced plans for significant growth through a nationwide launch of its Hits platform scheduled for Q3 FY26. The company is set to expand its operations into new states while focusing on rapid broadband growth to serve the increasing number of digitizing Indian households.

Expansion Strategy

The company's expansion strategy includes:

1. Nationwide Hits Platform Launch: GTPL Hathway plans to launch its Hits (Headend-In-The-Sky) platform across India in the third quarter of the fiscal year 2025-26. This move is expected to significantly extend the company's reach and service capabilities.

2. New State Penetration: The company has already expanded into three new states in Q4 FY25: Arunachal Pradesh, Chhattisgarh, and Mizoram. This expansion demonstrates GTPL Hathway's commitment to increasing its geographical footprint.

3. Broadband Focus: With a strong emphasis on broadband services, GTPL Hathway aims to capitalize on the growing demand for high-speed internet connectivity in Indian households.

Financial Performance

GTPL Hathway's recent financial results reflect its strong market position:

Operational Highlights

Digital Cable TV

• Active subscribers: 9.50 million as of September 30, 2025
• Paying subscribers: 8.80 million
• Q2 FY26 Subscription revenue: ₹3,024.00 million

Broadband

• Subscribers: 1.05 million, an increase of 10,000 Y-o-Y
• Q2 FY26 Revenue: ₹1,393.00 million, up 2% Y-o-Y
• Homepass: 5.95 million, with 75% available for FTTX conversion
• ARPU: ₹465.00 per month per subscriber
• Average data consumption: 410 GB per user per month, up 17% Y-o-Y

Market Position

GTPL Hathway maintains a strong market presence:

• Largest Digital Cable TV and Wireline Broadband Service Provider in Gujarat
• Leading Digital Cable TV Service provider in West Bengal
• Digital Cable TV services reach 1,500+ towns across 26 states in India
• Network of 48,000+ business partners and 200+ broadcasters

Future Outlook

Anirudhsinh Jadeja, Managing Director of GTPL Hathway Limited, commented on the company's performance and future plans: "We have sustained our subscriber base across both Cable TV and Broadband businesses, reflecting continued customer trust and operational resilience in a competitive environment. Our focus on enhancing customer experience continues to drive us to expand beyond traditional Cable TV and Broadband offerings by layering OTT, Gaming, TV Everywhere and a combination of these services to meet diverse content preferences."

The company remains committed to driving efficiency, customer acquisition, and retention through value-accretive products and services, while leveraging technology and maintaining prudent financial discipline.

As GTPL Hathway prepares for its nationwide Hits platform launch and continues its expansion into new territories, the company is well-positioned to capitalize on the growing demand for digital entertainment and high-speed internet services across India.