IPO-bound Tata Play slips into net loss of Rs 105 crore
Sebi to raise capital through an IPO, has recorded a net loss of ₹105 crore for the fiscal year ending March 2023, against a net profit of ₹69 crore the year before. As per the financial data accessed by Tofler, the direct-to-home (DTH) company's revenue from operations for the fiscal year dropped 5.1% to ₹4,499 crore from ₹4,741 crore a year ago.
Total expenses increased by a percentage point to ₹4,691 crore from ₹4,642 crore. The company's revenue from the DTH business fell by over 7% to ₹4,240 crore from ₹4,567 crore.
Income from broadband services jumped by over 49% to ₹260 crore from ₹174 crore. As of December 2022, Tata Play had 21.78 million DTH subscribers and 0.4 million broadband customers.
The email sent to Tata Play remained unanswered. The company paid ₹920.63 crore to Star India as the broadcaster's share of the maximum retail price, compared to ₹928.32 crore in the previous fiscal.
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