GTPL Hathway spends Rs 265 crore on capex in 9 months FY25
GTPL Hathway invested Rs 265 crore of the planned annual capital expenditure of Rs 350 crore in its cable TV and broadband businesses during the first nine months of this financial year, said the company's chief strategy officer, Piyush Pankaj.
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Of the Rs 265 crore, the company invested Rs 160 crore in the cable TV business and Rs 95 crore in the broadband business during the period, Pankaj told analysts during the company's third-quarter earnings call on January 10.
“In cable TV, the main capex was spent on set-top boxes. So, out of Rs 160 crore, you can say around 90% is on the cable boxes. The rest is on fibre,” Pankaj said.
GTPL Hathway is India’s largest cable TV company, with 8.9 million paying subscribers. It also has over a million broadband customers. For the nine months ending December 31, 2024, the company's net profit fell 60% year-on-year to Rs 38 crore, while revenue increased 8% to Rs 2,586 crore.
In 2023, the company had announced a capex of Rs 1,400 crore over the next three years, Rs 450-500 crore each year, divided equally between the cable TV and broadband businesses.
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