The fall in GTPL Hathway share price came after the company reported a weak set of September quarter (Q2FY25) results.
GTPL Hathway Ltd, provider of cable and internet services, on Thursday reported a decline of 38.04 per cent in consolidated net profit at Rs 24.67 crore for the third quarter ended December 31, 2023. The company had posted a net profit of Rs 39.82 crore in the October-December period a year ago, according to a regulatory filing from GTPL Hathway, a firm owned by Reliance Industries Group. However, its total revenue was up 24.1 per cent to Rs 850.87 crore in the December quarter. It was at Rs 685.63 crore in the corresponding period a year ago. During the quarter, its revenue from the Cable TV business was at Rs 660.60 crore and Rs 135.20 crore from internet services. GTPL Hathway's total income, which also includes other income, was up 22 per cent in the December quarter to Rs 860.66 crore. Shares of GTPL Hathway Ltd on Thursday closed at Rs 199 on BSE, down 3.91 per cent from the previous close.
Separate investigation on home-grown online gaming companies shows tax evasion of up to Rs 80,000 crore
Stocks to watch today: L&T Technology Services and Jindal Steel and Power will share June quarter 2022 (Q1FY23) results on Friday, July 15.
Stocks to watch today: Tata Elxsi, L&T Infotech will report their June quarter results 2022 on Thursday July 14; Mindtree posted 37.3 per cent rise in net profit to Rs 471.6 crore for Q1FY23.
In the past six months, the stock has zoomed 142 per cent as against a 17 per cent rise in the S&P BSE Sensex
Infosys, Wipro, Amtek Auto, GTPL Hathaway and six other firms are slated to release their Q3 numbers today
GTPL's total income in Q3 increased 115 per cent YoY to Rs 687.5 crore, with CATV subscription revenue at Rs 258.1 crore (up 44% YoY)
Shares of LCOs including Hathway cables and Datacom, Den Networks and GTPL Hathway zoomed in the range of 5 to 20% during the morning deals on the BSE while those of PVR & INOX Leisure slipped up 10%
Total income increased by 29 per cent on a year-on-year basis to Rs 454 crore
GTPL Hathway and Polycab Wires Private Limited, India's largest wire and cable company, are the consortium partners
There are multiple growth triggers but new competition can spoil show