The company utilised ₹8,018 crore of the provision in FY26 from ₹25,760 crore at the end of FY25, with no fresh heavy provision during the year, according to its standalone financial statements for the year ended March 2026.
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JioStar said certain sports event contracts continue to be classified as onerous because expected customer revenues are likely to fall short of the costs associated with those events. Such provisions are created to account for anticipated future losses.
The provisions relate mainly to the International Cricket Council (ICC) media rights, which were acquired for $3 billion for the 2023-27 cycle. The company’s losses from the ICC rights have been a source of friction with the global cricket body. Last year, it approached the ICC seeking to surrender the rights, though it is contractually bound to honour the deal.