Yes it's matter while getting admission, let me explain in brief with example.

Consider you're applying to university and along with you thousands of people applying for same university.

You have a great GRE score rather than all other students but having a low GPA.

But some others one have low GRE score than you but having good GPA.

 he will get admitted because he belong to good ranking university with good GPA.

Your university ranking and GPA play a vital role in admission.

In that case only your GPA matter.

But don't worry in situations you can get admission with low GPA just focus on your GRE score.