As per the company’s regulatory filings, Tata Play posted a net loss of Rs 354 crore for the fiscal year ended March 31, compared with up Rs 105 crore the previous year.
The Tata Sons-promoted company’s revenue from operations declined by more than 4% to Rs 4,304 crore, while expenses increased by 1.47% to Rs 4,761 crore.
Tata Play’s DTH business slipped into a net loss of Rs 247 crore in FY24 against a net profit of Rs 20 crore in FY23. Revenue from the DTH segment dropped 7.45% to Rs 3,983 crore.
Net loss from the broadband business narrowed 13% to Rs 108 crore, while revenue grew 27% to Rs 329 crore.Tata Play declined to comment on the financials.In a recent report on Tata Play, ratings firm Crisil stated that the company’s revenue from the core DTH business was predicted to decrease in the medium term due to moderation in its subscriber base.
The decline is likely to be offset by growth in broadband and over-the-top (OTT) businesses, it added.
The DTH subscriber base has been under severe stress due to competition from DD Free Dish and OTT platforms.
According to a Telecom Regulatory Authority of India report, the four paid DTH platforms, including Tata Play, had 63.52 million active subscribers as of December 2023.
Tata Play was the largest platform, with 32.71% of the paid DTH market, which translates to 20.77 million subscribers.
Tata Play Broadband, which provides service under the Tata Play Fibre brand, has 0.48 million subscribers.
Recently, Temasek-owned Baytree Investments Mauritius sold its 10% stake in Tata Play to Tata Sons for $100 million. Walt Disney is also looking to exit the company by selling its 30% stake.
During the fiscal year, the DTH operator paid Rs 965 crore to Star India as the broadcaster’s share of maximum retail price net of broadcast incentive. Star India is owned by Walt Disney.
