Tata Play net loss narrows to ₹35.38 crore in FY24 as it beefs up streaming business

Direct-to-home television platform Tata Play (previously Tata Sky) saw its consolidated loss narrow to ₹35.38 crore in FY24 from ₹105.25 crore the previous year, according to data accessed by financial intelligence firm Tofler.

Revenue from operations came in at ₹4,327.07 crore, down 4.32% from ₹4,529.97 crore the previous year. Operational expenses were at ₹3,361.42 crore, against ₹3,137.78 crore in FY23.

The company said, “The industry and competitive environment continued to intensify within the DTH space. NTO (new tariff order) 3.0 led to new subscriber pricing strategies, resulting in slightly enhanced margins for the DTH operators. During the fiscal year, there were some notable advancements in customer propositions and offerings, effectively bolstering the brand and meeting market expectations.” These initiatives were implemented for both the pay TV market and the OTT audience, it added. Sporting events such as the cricket World Cup and Indian Premier League played a pivotal role in boosting viewership on the DTH platform.