Financials
Netflix adds 3.98 mn subs in Q1, to spend $17 bn on content this year
KOLKATA: After a year of astounding growth, Netflix has missed the subscriber addition estimates in the first quarter of 2021. The company has added 3.98 million subscribers globally in contrast to its six million guidance. It has estimated even lower gains for the next quarter – one million with almost zero growth from US, Canada, Latin America.
The Los Gatos-based streaming platform has cited the pull-forward growth in 2020, a lighter content slate due to delayed production as the reasons for slowdown in subscriber addition. “We don’t believe competitive intensity materially changed in the quarter or was a material factor in the variance as the over-forecast was across all of our regions,” it stated in a letter to shareholders.
However, it has topped analysts’ expectations in terms of revenue and earnings per share. The entertainment giant has posted $7.16 billion revenue compared to $7.13 billion expectations and $3.75 earnings per share versus estimated $2.97.
“We compete with many activities for consumers’ entertainment time, ranging from watching linear TV, video gaming, and viewing user generated content, just to name a few. Against this backdrop, the entertainment market is huge, giving us plenty of room to grow, if we can continue to improve our service. We believe we are less than 10 per cent of TV screen time in the US and even smaller in other regions and when including mobile devices,” it added.
The streamer expects paid membership growth will re-accelerate in the second half of 2021 thanks to its strong slate with the return of big hits like Sex Education, The Witcher, La Casa de Papel (aka Money Heist), and You, as well as number of original films including the finale to The Kissing Booth trilogy, Red Notice, Don’t Look U. It also promises a comprehensive local language offering including Too Hot to Handle for Brazil and Mexico, Dhamaka for India along with others.
Netflix will spend $17 billion cash on content this year compared to $11.8 billion last year. The company is also testing a crackdown on password sharing. It is working on making sure the people who are using a Netflix account are the ones who are authorised to do so, Netflix COO Greg Peters said.
“We’ll test many things, but we’ll never roll something out that feels like turning the screws,” co-CEO Reed Hastings said.
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.
