GTPL Hathway’s shares declined by 3% on October 10, following a significant decrease in its net profit for the July-September quarter. The company’s net profit dropped by 63% year over year to Rs 12.7 crore in Q2, down from Rs 34.2 crore in the same period last year.

The stock has been consistently declining, resulting in negative returns for the past week, month, three-month, one-year, and three-year periods.

According to its latest regulatory filing, the digital cable TV and broadband service provider’s net profit fell by 63% yearly to Rs 12.7 crore in the second quarter (Q2), a decrease from Rs 34.2 crore in the year-ago period. This marks the ninth time in the past ten quarters that the company has reported a year-over-year decline in its profit.

The decrease in the bottom line was also attributed to weak operational performance, with the earnings before interest, tax, depreciation, and amortisation (EBITDA) margin contracting sharply to 12.5% in Q2, compared to 16% in the same quarter of the previous fiscal year.

The company’s revenue from operations increased by 9.8% to Rs 855.6 crore, compared to Rs 779.2 crore in the corresponding period of the previous fiscal year.

Meanwhile, GTPL Hathway’s Q2 results also led to a surge in trading volumes, with 99,000 shares of GTPL Hathway changing hands on the exchanges, compared to the one-week daily traded average of 36,000.

At 2:58 pm, shares of GTPL Hathway were trading 1.40% lower at Rs 163.41 per share on the NSE. 

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