Connect with us

Headlines Of The Day

Tata Play reports Rs 105 cr loss in FY23, plans IPO

Tata Play made a loss of Rs 105 crore in Financial Year 2022-23 (FY23) on a revenue of Rs 4,499 crore, said the satellite TV broadcaster as it plans an initial public offering (IPO).

Tata Sons, which owns a 62 per cent stake in the company, is in talks with Temasek to buy out the Singapore fund’s 20 per cent stake in the broadcaster. A decision is expected soon.

Tata Play in FY22 had reported a revenue of Rs 4,741 crore and a profit of Rs 68.60 crore. “Tata Play was planning to launch an initial public offer of shares in the festival season to raise up to Rs 4,000 crore and with the company reporting losses, the investors’ sentiment may dampen,” said a banker.

Tata Play is a leader in the direct to home (DTH) industry, in terms of revenue and subscribers market share. It strengthened its market position in Financial Year 2020, resulting in a sharp addition of subscribers.

Tata Play had a subscriber market share of 32.7 per cent as on December 2022 and it was followed by Airtel DTH at 26.3 per cent, according data from Telecom Regulatory Authority of India (Trai).

Tata Play’s listing will be a valuation catalyst for Airtel DTH which has 8 per cent higher Ebitda (earnings before interest, taxes, depreciation and amortisation), bankers have said. Business Standard

Copyright © 2023.Broadcast and Cablesat

error: Content is protected !!