Financials
Complaints against ads up 14% in half year period in FY23: ASCI report
Mumbai: The Advertising Standards Council of India (ASCI) released its half-yearly complaints report, which consists of data from April to September 2022.
During the period, it processed 3,340 complaints against 2,764 advertisements that were in potential violation of the ASCI code. About 55 per cent of these ads were spotted across the digital domain, followed by 39 per cent in print and five per cent on television.
As compared to 2021-22, ASCI saw a 14 per cent rise in the number of complaints while witnessing a 35 per cent increase in the number of ads processed. Education remained the most violative sector, with 27 per cent of the complaints related to it; 22 per cent belonged to the classical education category, while five per cent were from the ed tech sector.
These were followed by personal care (14 per cent), food & beverages (13 per cent), healthcare (13 per cent) and gaming (4 per cent). ASCI’s surveillance remains strong, picking up 65 per cent of the ads processed suo motu.
98 per cent of consumers’ complaints were received by the artificial-intelligence-based complaints management system TARA. The introduction of TARA has given consumers a comprehensive, hassle-free redressal process. About 16 per cent of the total complaints recorded were from consumers, followed by 15 per cent from the government, while intra-industry complaints comprised three per cent. Of the 2,764 potentially objectionable ads processed, 32 per cent were not contested by the advertisers, 59 per cent were found to be in violation of the ASCI code, and eight per cent were found not to be violating the code.
Speaking about the survey, ASCI CEO and secretary general Manisha Kapoor said: “Looking at the rapid growth of digital advertising, we have invested heavily in ad-surveillance technology. We will continue to upgrade and streamline our processes to provide a more responsive platform to all stakeholders, including consumers, brands, and government bodies. In our constant pursuit of transparency, we have released a comprehensive report about the kinds of complaints and outcomes that ASCI has looked into during the first six months of the financial year.”
Of the total complaints received by ASCI, 28 per cent of the violations were by influencers. Of the 781 complaints processed against influencers, 34 per cent were from the personal care category, followed by food and beverage at 17 per cent, and virtual digital assets at 10 per cent.
As part of the report, ASCI also published a list of cases handled as well as non-compliant influencers and brands.
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.
