Financials
Disney+ Hotstar crosses 45.9 million paid subscribers
Mumbai: The Walt Disney Company on Thursday reported its earnings for the quarter ended 1 January 2022. The media company’s direct-to-home revenues increased by 34 per cent to reach $4.6 billion. This increase was driven by higher subscriber growth and increases in retail pricing.
Disney+ added 11.7 million subscribers during the quarter taking its total base from 118.1 million to 129.8 million. The company also revealed that it had 45.9 million Disney+ Hotstar subscribers. In comparison, Disney+ domestic subscribers (US+Canada) stood at 42.9 million and international subscribers excluding Hotstar stood at 41.1 million at the end of the quarter.
The average monthly revenue per user (ARPU) for Disney+ stood at $4.41. The ARPUs for Disney+ Hotstar increased from $0.98 to $1.03 due to launches in new territories with higher average prices, partially offset by a higher mix of wholesale subscribers.
However, the DTC business also saw a higher operating loss at $0.6 billion (27 per cent increase) driven by higher programming, production, marketing and technology costs at Disney+.
Overall, Disney posted revenues of $21.8 billion registering a growth of 34 per cent year-on-year. The company’s media and entertainment distribution business brought in about $14.58 billion in revenues registering a growth of 15 per cent YoY. Its operating income was $808 million a decrease of 40 per cent over the same quarter in the previous year.
Disney’s linear network business posted revenues of $7.7 billion and content sales and licensing revenues stood at $2.4 billion. Disney’s linear network business remained essentially flat over last year.
International channel revenues for the quarter decreased by four per cent to $1.6 billion reflecting the closure of channels across its markets. The growth in channels that continued to operate in the current and prior year quarters was due to an increase in advertising revenue driven by higher rates.
“We’ve had a very strong start to the fiscal year, with the launch of a new franchise with Encanto, and a significant increase in total subscriptions across our streaming portfolio to 196.4 million, including 11.8 million Disney+ subscribers added in the first quarter,” The Walt Disney Company chief executive officer Bob Chapek. “This marks the final year of The Walt Disney Company’s first century, and performance like this coupled with our unmatched collection of assets and platforms, creative capabilities, and unique place in the culture give me great confidence we will continue to define entertainment for the next 100 years.”
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.
