Tata Play's FY25 Losses Deepen to ₹529 Crore Amid Revenue Decline to ₹4,082 Crore

Tata Group-owned Tata Play reported a consolidated net loss of ₹529.43 crore for the financial year ended March 31, 2025. This is a significant increase from its FY24 loss of ₹353.88 crore, as per news reports. The company continues to face competition from DishTV, Airtel Digital TV, and DD Free Dish.

Decline in Revenue and Income

Revenue from operations dropped by 5.15% year-on-year to ₹4,082.5 crore in FY25. Total income, which includes other income, also declined by 5.03%, reaching ₹4,109.3 crore. No official reason has been provided for the widened losses, as per the Tofler report.

Tata Play reduced total expenses to ₹4,619.22 crore in FY25, 3% lower than the previous year. Its advertising and promotional spend saw a sharper drop, down 29.2% to ₹124.28 crore from ₹175.54 crore in FY24. Despite this, the cost savings did not offset the revenue decline.

The company reduced its net debt to ₹3,445.60 crore at the end of FY25, compared to ₹4,010.21 crore in FY24. 

Read more: Tata Play and ZEE Partnership on Addressable Ads Sparks Advertising Innovation!

Ownership Structure

Tata Sons remains the largest shareholder with a 60% stake. In FY24, it acquired an additional 10% from Baytree Investments for $100 million. Network Digital Distribution Services and TS Investments each hold 20%. Currently, Tata Sons and TS Investments are the 2 primary promoters of Tata Play.

Talks between Bharti Airtel and the Tata Group for a possible DTH business merger were called off on May 3. Bharti Airtel stated that no mutual agreement was reached.

IPO Put on Hold

Tata Play had secured SEBI approval to launch an IPO. However, the plan was delayed following a directive from the Ministry of Information & Broadcasting, which asked for changes in the company’s equity structure.

Conclusion

Tata Play saw deeper losses in FY25 along with falling revenues. Cost reductions and lower debt were recorded, but no major recovery steps have been disclosed.

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