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India.com
23-05-2025
- Business
- India.com
Bad news for Ratan Tata's Tata Group as Tata Play loses Rs 5100000000 due to...
(File) In a major setback for Tata Group-owned Tata Play, the direct-to-home (DTH) television service has suffered a consolidated net loss of Rs 510 crore in 2024-25, a 44 percent increase from previous year's Rs 354 crore, primarily due to its dwindling subscriber base amid mounting competition from rival DTH service providers and the surge in popularity of OTT platforms. Tata Play is jointly owned by Tata Sons– the holding company of the Tata Group– which owns a 70 percent controlling stake in the DTH service, and Walt Disney, that has a 30 percent holding. According to a report by The Economic Times, Tata Play also registered a 5.46% decline in total revenue to Rs 4,082 crore from Rs 4,305 crore. As per Crisil ratings, Tata Play's loss in revenue is attributed to a dwindling subscriber base, which has shrunk to 18 million from its peak of 23 million, amid stiff competition from government-owned Prasar Bharti's DD Free Dish, and surging popularity of OTT platforms. Crisil Ratings has predicted that Tata Play's revenue is expected to remain flat in 2025-26, following the decline in the previous fiscal. In 2022-23, Tata Play had reduced its total debt to Rs 3,262 crore from Rs 3,679 crore in 2021-22, but it temporarily surged to Rs 4,074 crore in 2023- 24, primarily owing to a Rs 1,200 crore increase in lease liabilities linked to new GSAT satellite transponders, according to the ET report. Tata Play began transmission via the the GSAT-24 satellite in 2024, enabling the DTH service to carry nearly 50% more channels. Earlier, Tata Play was in discussion for merger with telecom giant Bharti Airtel's DTH arm, Bharti Telemedia, but the talks fell apart, reportedly due to the lack of a 'satisfactory resolution'. According to Crisil Ratings, despite declining revenues, Tata Play's broadband business and its OTT platform, Tata Play Binge, is likely to partially offset the impact of the revenue loss. In 2024, Tata Sons acquire an additional 10% stake in Tata Play from Temasek for $100 million at a market valuation of $1 billion, significantly lower than its peak $3 billion valuation before the Covid-19 pandemic.
Time of India
23-05-2025
- Business
- Time of India
Tata Play net loss surges 44% to ₹510 crore in FY25
Tata Play , the direct-to-home (DTH) television service jointly owned by Tata Sons (70%) and Walt Disney (30%), reported a wider consolidated net loss of ₹510 crore for 2024-25, a 44% increase from ₹354 crore in the previous year. The company also recorded a 5.46% decline in total revenue to ₹4,082 crore from ₹4,305 crore. It had been in talks with Bharti Airtel to merge with the latter's DTH arm, Bharti Telemedia. However, the merger discussions were terminated owing to the lack of a 'satisfactory resolution'. Crisil Ratings, which reaffirmed its ratings on Tata Play's ₹8,000 crore bank facilities, said revenue is expected to remain flat in 2025-26, following the decline in the previous fiscal. The drop is primarily attributed to a shrinking subscriber base, which has fallen to 18 million from a peak of 23 million. The decline in subscribers is driven by mounting competition from DD Free Dish, operated by Prasar Bharati, and the increasing popularity of digital entertainment platforms, particularly over-the-top (OTT) services. However, Media Partners Asia had earlier reported that the pay TV industry gained 3.5 million net paid subscribers in 2025 amid cricket content moving behind paywalls even as competition from DD Free Dish and OTT continues unabated. Crisil Ratings noted that while DTH revenues have declined, the impact is expected to be partially offset by growing earnings from Tata Play's broadband business and its OTT platform, Tata Play Binge. Last year, Tata Sons acquired a 10% stake in Tata Play from Temasek for $100 million, valuing the DTH firm at $1 billion, down significantly from its pre-Covid-19 peak valuation of $3 billion. Meanwhile, Tata Play Broadband (TPBB) narrowed its net loss by 6.48% to ₹101 crore, down from ₹108 crore. Revenue rose more than 16% to ₹383 crore from ₹329 crore. Crisil Ratings reaffirmed its ratings on TPBB's ₹700 crore bank facilities. Tata Play invested ₹455 crore in TPBB in 2021-22, ₹209 crore in 2022-23 and ₹185 crore in 2023-24. While TPBB's net worth stood at around ₹450 crore in 2023-24, it was largely supported by these capital infusions. With future investments expected to decline, the net worth may shrink. Tata Play reduced its adjusted net debt to ₹3,262 crore in 2022-23 from ₹3,679 crore in 2021-22. However, it temporarily rose to ₹4,074 crore in 2023-24, largely owing to a ₹1,200 crore increase in lease liabilities linked to new GSAT satellite transponders. In August 2023, the company began transmission via the GSAT-24 satellite, enabling it to carry 50% more channels. For 2024-25, total debt remained stable at ₹3,584 crore, or ₹1,798 crore excluding lease liabilities. Crisil Ratings expects the majority of upcoming capital expenditure to be directed toward the DTH business, with spending expected to be managed prudently. Despite operational improvements, Tata Play's financial position remains burdened by a negative net worth, owing to accumulated losses and provisions related to a potential liability for disputed licence fees. The issue stems from a demand raised by the information and broadcasting ministry in 2019-20. While the matter remains under judicial review, the ministry granted all DTH operators a provisional 20-year licence with effect from April 1, 2021. Tata Play has provisioned around ₹2,002 crore for this liability and has recognised an additional ₹2,280 crore as a contingent liability as of March 31, 2024, with no immediate payout expected.
Time of India
23-05-2025
- Business
- Time of India
Tata Play net loss surges 44% to Rs 510 crore in FY25
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Tata Play, the direct-to-home (DTH) television service jointly owned by Tata Sons (70%) and Walt Disney (30%), reported a wider consolidated net loss of Rs 510 crore for 2024-25, a 44% increase from Rs 354 crore in the previous company also recorded a 5.46% decline in total revenue to Rs 4,082 crore from Rs 4,305 crore. It had been in talks with Bharti Airtel to merge with the latter's DTH arm, Bharti Telemedia. However, the merger discussions were terminated owing to the lack of a 'satisfactory resolution'.Crisil Ratings, which reaffirmed its ratings on Tata Play's Rs 8,000 crore bank facilities, said revenue is expected to remain flat in 2025-26, following the decline in the previous fiscal. The drop is primarily attributed to a shrinking subscriber base, which has fallen to 18 million from a peak of 23 decline in subscribers is driven by mounting competition from DD Free Dish, operated by Prasar Bharati, and the increasing popularity of digital entertainment platforms, particularly over-the-top (OTT) Media Partners Asia had earlier reported that the pay TV industry gained 3.5 million net paid subscribers in 2025 amid cricket content moving behind paywalls even as competition from DD Free Dish and OTT continues Ratings noted that while DTH revenues have declined, the impact is expected to be partially offset by growing earnings from Tata Play's broadband business and its OTT platform, Tata Play year, Tata Sons acquired a 10% stake in Tata Play from Temasek for $100 million, valuing the DTH firm at $1 billion, down significantly from its pre-Covid-19 peak valuation of $3 Tata Play Broadband (TPBB) narrowed its net loss by 6.48% to Rs 101 crore, down from Rs 108 crore. Revenue rose more than 16% to Rs 383 crore from Rs 329 crore. Crisil Ratings reaffirmed its ratings on TPBB's Rs 700 crore bank Play invested Rs 455 crore in TPBB in 2021-22, Rs 209 crore in 2022-23 and Rs 185 crore in 2023-24. While TPBB's net worth stood at around Rs 450 crore in 2023-24, it was largely supported by these capital infusions. With future investments expected to decline, the net worth may Play reduced its adjusted net debt to Rs 3,262 crore in 2022-23 from Rs 3,679 crore in 2021-22. However, it temporarily rose to Rs 4,074 crore in 2023-24, largely owing to a Rs 1,200 crore increase in lease liabilities linked to new GSAT satellite August 2023, the company began transmission via the GSAT-24 satellite, enabling it to carry 50% more 2024-25, total debt remained stable at Rs 3,584 crore, or Rs 1,798 crore excluding lease Ratings expects the majority of upcoming capital expenditure to be directed toward the DTH business, with spending expected to be managed operational improvements, Tata Play's financial position remains burdened by a negative net worth, owing to accumulated losses and provisions related to a potential liability for disputed licence issue stems from a demand raised by the information and broadcasting ministry in 2019-20. While the matter remains under judicial review, the ministry granted all DTH operators a provisional 20-year licence with effect from April 1, Play has provisioned around Rs 2,002 crore for this liability and has recognised an additional Rs 2,280 crore as a contingent liability as of March 31, 2024, with no immediate payout expected.
Yahoo
08-05-2025
- Business
- Yahoo
Globalstar: Q1 Earnings Snapshot
COVINGTON, La. (AP) — COVINGTON, La. (AP) — Globalstar Inc. (GSAT) on Thursday reported a loss of $17.3 million in its first quarter. The Covington, Louisiana-based company said it had a loss of 16 cents per share. Losses, adjusted for non-recurring costs, were 10 cents per share. The satellite communications company posted revenue of $60 million in the period. Globalstar expects full-year revenue in the range of $260 million to $285 million. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on GSAT at Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Washington Post
08-05-2025
- Business
- Washington Post
Globalstar: Q1 Earnings Snapshot
COVINGTON, La. — COVINGTON, La. — Globalstar Inc. (GSAT) on Thursday reported a loss of $17.3 million in its first quarter. The Covington, Louisiana-based company said it had a loss of 16 cents per share. Losses, adjusted for non-recurring costs, were 10 cents per share. The satellite communications company posted revenue of $60 million in the period.
