Digital cable TV and broadband service provider GTPL Hathway's shares rallied over 10 percent on Friday after the company reported robust earnings for the quarter ended December 2019 led by a sharp 44 percent increase in cable TV subscription revenue.

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The stock touched intraday high of Rs 90 after rallying 10.90 percent on the BSE. Last month, the stock surged 36.21 percent as compared to a 2.49 percent rise in BSE Telecom index.

Consolidated net profit in Q3FY20 rose 77 percent YoY to Rs 32.9 crore while total revenue surged 115 percent on year to Rs 687.5 crore.

The broadband average revenue per user (ARPU) for the quarter was maintained at Rs 415, the company said. The company's EBITDA for the quarter stood at Rs 135.2 crore, up 62 percent YoY.

"During Q3, we further reduced our debt by Rs 475 million and, with that, our net debt as on December 31, 2019, stood at Rs 1,861 million," said Anirudhsinh Jadeja, managing director, GTPL Hathway.

GTPL seeded 1,50,000 set-top boxes (STBs) during third quarter FY20, taking total seeded STBs as on December 31, 2019, to 10.05 million. The company added 20,000 net broadband subscribers during Q3 and 10,000 FTTX subscribers.

Total subscribers as on December 31, 2019, were 3,75,000 of which 85,000 are FTTX ((Fiber To The X) subscribers. During Q3FY20, the company added 2,40,000 Home Pass.

At 2:13 pm, shares of GTPL Hathway rallied 2.16 percent to Rs 82.90 on the BSE.

First Published:Jan 10, 2020 2:13 PM IST