Tata Play Reports Widening Losses Amid Revenue Decline

Tata Play, formerly known as Tata Sky, posted a consolidated loss of Rs 353.9 crore for FY24 amid a 4.32% decline in revenue from operations. Total expenses rose by 1.47%, while the company's total revenue fell 4.47%. Tata Play awaits a response from MIB regarding its IPO equity structure.

Tata Play, formerly known as Tata Sky, has reported a widening of its consolidated loss to Rs 353.9 crore for the financial year ending March 31. This comes as revenue from operations declined by 4.32% to Rs 4,304.62 crore, according to financial data accessed by the business intelligence platform Tofler.

In the previous financial year, the company had posted a net loss of Rs 105.25 crore with revenue from operations standing at Rs 4,499.19 crore. Total expenses for Tata Play, in which Tata Sons owns a 50% share, increased by 1.47% to Rs 4,760.55 crore for FY24, compared to Rs 4,691.25 crore the year before.

Furthermore, Tata Play's total revenue for FY24 also dropped by 4.47% to Rs 4,327.07 crore from Rs 4,529.97 crore a year ago. On a standalone basis, revenue from operations declined by 6.07% to Rs 3,982.57 crore. Despite receiving approval from SEBI for an IPO, the process was delayed due to observations from the Ministry of Information & Broadcasting (MIB) concerning the equity structure.

(With inputs from agencies.)