Tata Play, India’s largest direct-to-home (DTH) TV operator, reported a significant financial setback for the fiscal year 2024, with losses ballooning over three-fold due to increased competitive pressures in its core DTH business.

According to the company’s regulatory filings, Tata Play posted a net loss of ₹354 crore for the fiscal year ended March 31, compared to ₹105 crore the previous year. Revenue from operations dropped by more than 4 percent to ₹4,304 crore, while expenses rose by 1.47 percent to ₹4,761 crore.

The DTH segment, which has been the cornerstone of Tata Play’s business, reported a net loss of ₹247 crore in FY24, a stark contrast to the net profit of ₹20 crore in FY23. Revenue from the DTH segment fell 7.45 percent to ₹3,983 crore, The Economic Times reported.

Despite these challenges, Tata Play’s broadband business showed signs of improvement. The net loss in this segment narrowed by 13 percent to ₹108 crore, while revenue surged 27 percent to ₹329 crore.