Shares of this small-cap stock jumped up to 11 percent after announcing its results for the first quarter ending June 2023 (Q1FY23-24). The company’s market capitalization stands at Rs 1,378 crores.
The stocks of GTPL Hathway Limited opened their trading hour at Rs 119 and currently trade at Rs 121.30. The scrip witnessed an intra-day high of Rs 127.75 indicating a gain of around 11 percent compared to the previous closing levels of Rs 115.05 apiece.
The surge in the stock prices today is observed after announcing results for Q1FY23-24. The company’s basic metrics, in recent quarters, have shown positive movements. Comparing Q1FY23-24 with Q4FY22-23, the operating revenues as well as after-tax profits showed an increase with the former moving from Rs 692 crores to Rs 774 crores and the latter transitioning from a net loss of Rs 11 crores to net profits of Rs 35 crores.
On a YoY basis, the operating revenues, on one hand, increased from Rs 630 crores in June 2022 to Rs 774 crores during June 2023 and, the net profits, on the other hand, went down from Rs 48 crores to Rs 35 crores keeping aside the bounce back the company did on a sequential basis.
The company’s profitability metrics have shown a dip in numbers with the return on equity (RoE) declining from 19.34 percent during FY21-22 to 10.32 percent in FY22-23. Moreover, the return on capital employed (RoCE) took a downshift from 25.37 percent to 14.73 percent keeping the timeframe the same.
According to the shareholding data pertaining to the June 2023 quarter, the Promoters hold a 75 percent stake, and Foreign Institutional Investors (FIIs) hold a 8.56 percent stake in the company.
GTPL Hathway Limited is a provider of cable TV and Broadband services in India. The company has three operating segments namely the Internet service, Cable Television, and EPC Project. It derives a majority of its revenue from the ‘Cable Television’ segment. Geographically, the company generates revenue from Indian market operations.
Written by Amit Madnani
