GTPL Hathway Sees 7% FY26 Revenue Growth to ₹37,466 Million; Declares ₹2 Dividend Amidst HITS Platform Launch

GTPL Hathway reported its audited financial results for the fiscal year and fourth quarter ending March 31, 2026. The company achieved 7% revenue growth year-over-year for the full fiscal year, reaching ₹37,466 million. For the fourth quarter (Q4 FY26), revenue increased by 4% compared to the previous year, totaling ₹9,344 million.

The company reported EBITDA of ₹4,321 million for FY26, achieving an 11.5% margin. As of March 31, 2026, GTPL Hathaway had 9.40 million active Cable TV subscribers and 1,060,000 broadband subscribers.

The board recommended a dividend of ₹2 per share for FY26, reflecting the company's financial performance.

Reader Takeaway: Revenue grew on broadband gains and the new HITS platform; tax disputes pose regulatory risk.

What just happened

GTPL Hathaway Ltd has released its audited financial results for the fiscal year and fourth quarter ending March 31, 2026. The company achieved 7% revenue growth year-over-year for the full fiscal year, reaching ₹37,466 million. For the fourth quarter (Q4 FY26), revenue increased by 4% compared to the previous year, totaling ₹9,344 million.

The company reported EBITDA of ₹4,321 million for FY26, achieving an 11.5% margin. As of March 31, 2026, GTPL Hathaway had 9.40 million active Cable TV subscribers and 1,060,000 broadband subscribers.

The board recommended a dividend of ₹2 per share for FY26, reflecting the company's financial performance.

Why this matters

These results show steady revenue growth, driven by gains in both cable TV and broadband services. A key development is the launch of 'GTPL Infinity', its Headend-In-The-Sky (HITS) platform. Designed for nationwide distribution, it aims to open new growth paths and improve service delivery, especially in areas with fewer existing options.

GTPL Hathaway is also expanding its services to include OTT, gaming, and 'TV Everywhere' options. This strategy aims to enhance customer experience, boost retention, and find new revenue streams in a changing media market.

The backstory

GTPL Hathaway is a major cable TV and broadband provider operating in 23 Indian states and has been focused on expanding its reach. In Q4 FY25, it added services in three new states. The development and planned nationwide rollout of its 'GTPL Infinity' HITS platform, supported by a large C-Band teleport facility in Ahmedabad, marks a significant strategic step to boost distribution and market reach. This initiative, approved by the ministry in March 2025 with a ₹100 crore investment, aims to offer up to 800 channels nationwide.

What changes now

• Shareholders will receive a ₹2 per share dividend for FY26.
• The 'GTPL Infinity' HITS platform launch creates opportunities for nationwide content distribution and new revenue.
• A greater focus on broadband growth and expanded services (OTT, Gaming) is set to improve customer retention and ARPU (Average Revenue Per User).
• GTPL Hathaway will continue expanding its geographical reach and subscriber numbers.
• Investors should watch how tax and regulatory issues are resolved.

Risks to watch

GTPL Hathaway faces notable regulatory challenges. The company is contesting a ₹11.13 crore GST demand related to input tax credit (ITC) claims and underpaid GST. It is also contesting a ₹2.06 crore Customs Department penalty over a tariff dispute. A previous ₹13.56 crore GST penalty for alleged excess ITC claims is under appeal.

Additionally, the Department of Telecommunications (DoT) has issued license fee demands totaling over ₹9,754 crore, including ₹357 crore for subsidiary GTPL Broadband. The company plans to appeal these demands, which represent ongoing financial and legal risks.

Peer comparison

GTPL Hathaway operates in a diverse sector. Siti Networks, another major MSO, is in insolvency proceedings with Q2 FY26 revenue of ₹961.87 million, facing significant cash flow problems. In contrast, GTPL is showing revenue growth and launching new services. Hathway Cable and Datacom (part of Reliance Industries) is a large, established competitor, while IndusInd Media & Communications (IMCL/NXTDIGITAL) also runs a HITS platform, competing in advanced distribution.

Context metrics

• Active Cable TV Subscribers: 9.40 million (as of March 31, 2026).
• Broadband Subscribers: 1,060,000 (as of March 31, 2026).
• Broadband Average Revenue Per User (ARPU): Approx. ₹465/month (Q3 FY26).

What to track next

• Watch how the 'GTPL Infinity' HITS platform is adopted and received in the market.
• Track broadband subscriber growth and ARPU in key markets.
• Follow GTPL's progress on appeals against GST, Customs, and DoT demands.
• Assess how new services (OTT, Gaming, TV Everywhere) boost customer retention and revenue.
• Look for potential acquisitions amid industry consolidation.