On the segmental front, Cable TV business remained the growth engine, with revenue rising 21% YoY to Rs 660.60 crore. The Internet Service business saw slower growth, clocking in at 9% YoY with revenue of Rs 135.21 crore. Revenue from Projects (including operation & maintenance) surged 3.4 times YoY to Rs 58.84 crore.

However, the revenue increase was overshadowed by a sharp 27% YoY rise in total expenses to Rs 827.52 crore. This was driven by higher operating expenses (up 21% YoY), increased depreciation and amortization charges, and a jump in other expenses.

Consequently, profit before tax tumbled 38% YoY to Rs 33.50 crore in Q3 FY24, compared to Rs 53.94 crore in Q3 FY23.

GTPL Hathway is a multi-system operator (MSO), providing digital cable TV services. The company is the sixth largest private wireline broadband service provider in India.