Financials
TV Today board recommends 45% dividend; numbers up
BENGALURU: The board of directors of TV Today Network Ltd (TVTN) has recommended a dividend of Rs 2.25 (45 per cent) per equity share of face value of Rs 5 each for the financial year ended 31 March 2018 (FY 2018, year, fiscal under review). The company has reported 10.7 per cent growth in consolidated total revenue from operations including other revenue for fiscal 2018 as compared to the previous year. Consolidated profit after tax (PAT) grew 18.4 per cent in FY 2018 as compared to FY 2017. Consolidated EBITDA and EBITDA margin during the year under review also grew as compared to the previous year. TVTN is the television arm of the India Today group.
TVTN’s consolidated total revenue including other income for FY 2018 was Rs 790.92 crore as compared to Rs 652.28 crore in the previous year. Consolidated revenue from operations (Op revenue) expanded 10.5 per cent in the fiscal under review to Rs 720.92 crore from Rs 652.28 crore in FY 2017. Consolidated PAT for FY 2018 grew to Rs118.94 crore from Rs 100.46 crore in the previous year. Consolidated simple EBITDA without other income for FY 2018 was up 16.3 per cent at Rs 283.92 crore (39.2 per cent of op revenue) as compared to Rs 244.20 crore (37.4 per cent of op revenue).
Consolidated total expenditure in FY 2018 grew four per cent to Rs 548.48 crore as compared to Rs 527.49 crore in the previous year. Consolidated employee benefits expense during the year under review grew 12.2 per cent to Rs 202.46 crore from Rs 180.50 crore in fiscal 2017. Consolidated production costs declined 6.5 per cent in FY 2018 to Rs 76.31 crore from Rs 81.64 crore in the previous year. Consolidated other expenses increased 3.2 per cent in FY 2018 to Rs 231.74 crore from Rs 180.50 crore in the previous year.
Four segments – TV broadcasting; radio; others; and newspaper publishing contribute to TVTN’s numbers, of which TV broadcasting is the major segment. The company reported TV broadcasting segment’s revenue growth of 7.7 percent in FY 2018 to Rs 606.80 crore from Rs 563.59 crore in the previous year. The segment had a 29.3 per cent higher operating profit in FY 2018 of Rs 202.63 crore as compared to Rs 156.75 crore in FY 2017.
After migration of three of its radio stations to phase III, radio segment reported a 167.6 per cent revenue growth in FY 2018 to Rs 23.90 crore from Rs 8.93 crore in the previous year. The segment’s operating loss reduced to Rs 13.69 crore during the year under review as compared to an operating loss of Rs 17.51 crore in FY 2017.
TVTN’s ‘Others’ segment revenue grew 36 per cent in FY 2018 to Rs 60.46 crore from Rs 44.45 crore in fiscal 2017. Operating profit of the segment more than doubled (up 106.9 per cent) in FY 2018 to Rs 4.80 crore from Rs 2.32 crore in the previous year.
Newspaper publishing segment revenue declined 20 per cent in FY 2018 to Rs 30.46 crore from Rs 38.08 crore in FY 2018. The segment’s operating loss more than tripled (grew by 202.1 per cent) in FY 2018 to Rs 8.55 crore from an operating loss of Rs 2.83 crore in the previous fiscal.
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.
