Financials
Q1-2015: TV Today q-o-q PAT doubles; radio segment continues disappointing run
BENGALURU: Driven by a good performance by its television segment, TV Today Network Limited (TVTN), a part of the India Today group, reported more than double (2.06 times) the PAT in Q1-2015 at Rs 32.79 crore (23.9 per cent of Income from Operations or Op Inc) as compared to the Rs 15.85 crore (16.3 per cent of Op Inc)) in Q4-2014 and 2.74 times the Rs 11.98 crore (13.5 per cent of Op Inc) in Q1-2014.
The company reported a respectable 40.6 per cent growth in Op Inc in Q1-2015 to Rs 137.01 crore as compared to the Rs 94.71 crore in Q4-2014 and 54.1 per cent more than the Rs 88.9 crore in Q1-2014.
Note: (1) Rs 100 lakh = Rs100,00,000 = Rs 1 crore = Rs 10 million.
Two segments – TV Broadcasting (TV) and FM Radio Broadcasting (Radio) contribute to TVTN’s revenues. TVTN’s Radio Broadcasting segment (Oye! FM) under the brand Oye! FM reported a lower operating loss in Q1-2015 at Rs 2.56 crore as compared to the Rs 4 crore in the immediate trailing quarter, but higher than the Rs 2.33 crore in the year ago quarter Q1-2014. The segment reported 14 per cent lower q-o-q operating revenue at Rs.3.37 crore in Q1-2015 as compared to the Rs 3.91 crore in Q4-2014, but 11.6 per cent more than Rs 3.02 crore in Q1-2014.
Let us look at the other Q1-2015 numbers reported by TVTN
As mentioned above, TVTN’s TV Broadcasting (TV) segment has performed well. Op Inc of the TV segment in Q1-2015 at Rs 133.64 crore was 42.9 per cent more than the Rs 93.5 crore in Q4-2014 and 55.6 per cent more than the Rs 85.89 crore in Q1-2014. The segment reported a positive operating result of Rs 51.43 crore, which was 86.7 per cent more than the Rs 27.55 crore in Q1-2014 and more than double (2.43 times) the Rs 21.18 crore in Q1-2014.
TVTN’s total expenditure in Q1-2015 at Rs 89.31 crore (65.2 per cent of Op Inc) was 15.5 per cent more than the Rs 77.31 crore (79.4 per cent of Op Inc) in Q4-2014 and 25.3 per cent more than the Rs 71.27 crore (80.2 per cent of Op Inc) in Q1-2014.
The company’s Production cost at Rs 13.45 crore (9.8 per cent of Op Inc) in the current quarter was 4.2 per cent higher than the Rs 12.91 crore(13.3 per cent of Op Inc) in Q4-2014 and 48.9 per cent more than the Rs 9.03 crore (10.2 per cent of Op Inc) in Q1-2014.
TVTN’s Employee Benefit Expense (EBE) in Q1-2015 at Rs 29.29 crore (26.5 per cent of Op Inc) was 35.2 per cent more than the Rs 21.67 crore (22.3 per cent of Op Inc)) in Q4-2014 and 24.1 per cent higher than the Rs 23.6 crore (26.6 per cent of Op Inc) in Q1-2014.
Other Expense at Rs 17.43 crore (12.7 per cent of Op Inc) in Q1-2015 was 9.6 per cent less than the Rs 19.27 crore (17.3 per cent of Op Inc) in Q4-2014 and 38.2 per cent more than the Rs 12.61 crore (14.2 per cent of Op Inc) in Q1-2014.
MUMBAI: It’s time to brief the markets: Page Industries is showing that even when regulations tighten, it can still keep its footing in the innerwear business. The Bengaluru-based apparel major has reported its financials for the quarter ended 31 December 2025, delivering a performance that remains steady and well put together.
The company’s top line showed plenty of elasticity this quarter. Revenue from operations stretched to Rs 1,38,675.71 lakhs, a healthy jump from the Rs 1,29,085.82 lakhs reported in the preceding quarter. Compared to the same period last year, which stood at Rs 1,31,305.10 lakhs, it’s clear the brand’s grip on the market isn’t loosening. Total income for the quarter, including other finance gains, reached a comfortable Rs 1,39,919.03 lakhs.
However, it wasn’t all smooth silk. The Government of India’s new unified Labour Codes, covering everything from wages to social security, officially kicked in on 21 November 2025. This regulatory shift forced Page Industries to account for a one-time “exceptional item” cost of Rs 3,500.42 lakhs to cover incremental employee benefits and related obligations. Despite this Rs 35-crore legislative snag, the underlying business remained robust. Profit before tax stood at Rs 25,625.35 lakhs after the exceptional hit, and without that one-off cost, the figure would have been a more muscular Rs 29,125.77 lakhs. Net profit for the quarter came in at Rs 18,953.64 lakhs.
Total expenses rose to Rs 1,10,793.26 lakhs, driven largely by raw material consumption of Rs 30,162.65 lakhs and employee benefits of Rs 23,310.66 lakhs. Even so, the company’s operational strength ensured the bottom line remained firmly stitched together.
For shareholders, the news is particularly “fitting.” The Board has declared a third interim dividend for 2025-26 of Rs 125 per equity share. The record date has been set for 11 February 2026, with the payment scheduled on or before 6 March 2026. This follows two previous interim dividends of Rs 150 and Rs 125 declared earlier in the financial year, reinforcing the company’s commitment to sharing the spoils of its success.
Looking at the nine-month stretch ending December 2025, Page Industries has amassed total income of Rs 4,04,090.59 lakhs, with total comprehensive income of Rs 58,231.49 lakhs. While the basic earnings per share for the quarter dipped slightly to Rs 169.93, compared to Rs 183.48 in the same quarter last year, the year-to-date EPS remains a solid Rs 524.57.
Auditors at S.R. Batliboi & Associates LLP have given the results a “limited review” thumbs up, reporting no material misstatements. It seems that, as far as Page Industries is concerned, the business remains as well-constructed as its famous Jockey briefs.
