Financials
AT&T likely to close WarnerMedia-Discovery merger by June-end
Mumbai: US major AT&T has reported its fourth-quarter financial results on Wednesday. The company’s WarnerMedia segment posted revenues of $9.9 billion, a growth of 15.4 per cent year-on-year driven by content licensing and direct-to-consumer subscription growth. The company said that it expects the WarnerMedia-Discovery transaction to close by the second quarter of 2022.
“We are encouraged with how the process for the WarnerMedia deal is progressing and now expect the transaction to close in the second quarter,” said AT&T CEO John Stankey. “Coming off an outstanding year with HBO Max, we plan to hand off the business with a strong exit velocity, and we look to further our international momentum and deliver more world-class content for viewers.”
He further added, “When the deal closes, the investments made in both content and HBO Max growth, coupled with strong execution by the team, will ensure Warner Bros Discovery is positioned as a leading global media company with the depth of content and the capabilities required to lead in the next era of media.”
WarnerMedia’s streaming service HBO Max added 13.1 million subscribers in 2021 and currently has a base of 73.8 million subscribers globally. The investor presentation also revealed that WarnerMedia saw a DTC subscription revenue growth of 11.5 per cent from $1.7 billion to $1.9 billion in the fourth quarter.
In May 2021, AT&T announced that it had proposed a merger between Discovery Inc and its media subsidiary WarnerMedia, which would be spun off into a new publicly-traded company to be known as Warner Bros Discovery. The merged entity would be led by Discovery CEO David Zaslav. The transaction was approved by the European Commission in December 2021 and it is expected to be completed in mid-2022.
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.
