Tata Play Reports Net Loss Of Rs. 354 Cr In FY24, A Threefold Increase From FY23
Its operating revenue decreased by 4 per cent to Rs. 4,304 crore, while expenses increased by 1.47 per cent to Rs. 4,761 crore
Tata Play has reported that its losses in FY24 have increased significantly. This occurs during a period of economic distress for the direct-to-home (DTH) sector.
According to an industry report citing the company's regulatory filings, Tata Play reported a net loss of Rs.354 crore in FY24 as opposed to a loss of Rs.105 crore the year before. Operating revenue for the company decreased by 4 per cent to Rs. 4,304 crore, while expenses increased by 1.47 per cent to Rs. 4,761 crore.
In FY24, the DTH company reported a net loss of Rs. 247 crore as opposed to a profit of Rs. 20 crore in FY23. The segment's revenue fell 7.45 per cent to Rs.3,983 crore. The broadband company saw a 13 per cent decrease in net loss to Rs.108 crore, despite a 27 per cent increase in revenue to Rs. 329 crore.
According to a recent analysis by Crisil, Tata Play's primary DTH revenue will decline over the medium run as a result of its subscriber base's modernisation. The report also stated that the rise of broadband and over-the-top (OTT) companies will counteract this reduction.
According to the Telecom Regulatory Authority of India's data, Tata Play has 2.07 crore customers and holds 32.71 per cent of the paid DTH market as of December 2023, making it the largest DTH platform in India. Walt Disney has sold Tata Group the remaining portion of its ownership in Tata Play.
