Financials
Q3-2016: Network18 YoY EBIDTA up 27.5%
BENGALURU: Network18 Media & Investments Limited (Network18) reported 8.9 per cent YoY growth in consolidated income from operations (TIO) at Rs 905.6 crore in the quarter ended 31 December, 2015 (Q3-2016, current quarter) as compared to the Rs 831.9 crore and was 13 per cent higher QoQ as compared to Rs 801.1 crore.
The company’s EBIDTA in the current quarter increased 27.5 per cent YoY to Rs 85.6 crore (9.5 per cent margin) from Rs 67.2 crore (8.1 per cent margin) and more than quadrupled (up 4.5 times) QoQ from Rs 19.2 crore.
Note: 100,00,000 = 100 lakh = 10 million = 1 crore
The company reported a lower consolidated YoY loss of Rs 2.4 crore for the current quarter than the loss of Rs 12.2 crore and less than one tenth QoQ loss as compared to Rs 27.43 crore.
Network18 has holdings in TV18 Broadcast Limited (TV18). TV18 reported 14 per cent YoY growth in Income from operations (TIO) in Q3-2016 at Rs 692.42 crore as compared to Rs 607.23 crore and a 13.8 per cent QoQ growth as compared to Rs 608.53 crore. TV18 reported net profit after tax (PAT) for the current quarter at Rs 78.29 crore (11.3 per cent margin) as compared to Rs 60.38 crore in Q3-2015 (9.9 per cent margin) and Rs 20.27 crore (3.3 per cent margin) in the immediate trailing quarter.
Network18 paid 5.1 per cent more YoY towards programming costs in the current quarter at Rs 212.5 crore (23.5 per cent of TIO) as compared to the Rs 202.1 crore (24.3 per cent of TIO) and was 11.5 per cent more QoQ as compared to Rs 190.6 crore (23.8 per cent of TIO).
Network18’s distribution, advertisement and business promotion costs in Q3-2016 declined five per cent YoY to Rs 203.3 crore (22.4 per cent of TIO) and declined 2.4 per cent QoQ from Rs 208.2 crore (26 per cent of TIO).
Network18’s employee benefit expense increased 11.3 per cent YOY in Q3-2016 to Rs 159.3 crore (17.6 per cent of TIO) as compared to Rs 143.1 crore (17.2 per cent of TIO), but declined two per cent from the Rs 162.5 crore (20.3 per cent of TIO.
Network18’s finance costs in Q3-2016 declined 17.5 per cent YoY to Rs 22.7 crore (2.5 per cent of TIO) as compared to Rs 27.5 crore (3.3 per cent of TIO) and declined 1.7 per cent from Rs 23.1 crore (2.9 per cent of TIO).
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.
