Financials
Despite lower income, releases in Q1-2014 help Eros post higher PAT for Q2-2014
BENGALURU: Eros International Media Limited (Eros) posted 12.8 per cent lower revenue for Q2-2014 at Rs 201.47 crore as compared to the Rs 231.05 crore for Q2-2013 and 3.7 per cent higher than the Rs 194.2 crore for Q1-2014. However, Eros’s PAT (after minority) for Q2-2014 at Rs 36.9 crore (PAT margin 18.4 per cent) was 41.8 per cent higher than the PAT of Rs 26.08 crore (PAT margin 11.4 per cent) in Q2-2013 and 26.2 per cent more than the Rs 29.3 crores (PAT margin 15.1 per cent) in Q1-2014.
Eros Managing Director Sunil Lulla said, “Eros has given strong financial and operational performance in the first half of the fiscal, especially, given that we have had no high budget releases in the first half of FY 2014 compared to two high budget releases in the first half of FY 2013. The company’s performance was underpinned by the all-round success of movies like Grand Masti, Raanjhaana, Go Goa Gone and our overseas release of Yeh Jawani Hai Deewani all of which have been monetised over multiple distribution channels.”
The company says that its performance during HY1-14 was also backed by other overseas releases like Furkey, Lootera, Shootout at Wadala, Ek thi Dhayan, Phata Poster Nikla Hero and within the country through regional films such as Rangeelay (Punjabi) and Tamil films. Also, television revenues for Q2-2014 were mainly underpinned by a combination of catalogue monetisation as well as delivering new films under the previously announced licensing agreement with Viacom 18.
Let us look at the other HY1-2014 and Q1-2014 figures posted by Eros:
Overall for HY1-2014, PAT at Rs 66.31 crore was 15.3 per cent higher than the Rs 57.49 crore Eros had reported for Q2-2013, despite releasing only 26 films (11 Hindi and 15 Tamil) in HY1-2014. In Q1-2014, Eros had 12 releases, in Q2-2014, IT HAD 14. In HY1-2013, Eros had had 42 releases.
Total Expense for Q2-2014 at Rs 103.8 crore was 42.2 per cent lower than the Rs 179.51 crore for Q2-2013 and 4.2 per cent lower than the Rs 108.31 crore in Q1-2014. Direct cost for Q2-2014 at Rs 139.36 crore was 17.8 per cent lower than the Rs 169.07 crore for Q2-2013, but 6.1 per cent higher than the Rs 131.38 crore for Q1-2014.
Interest cost for Q2-2014 at Rs 6.2 crore was more than double (2.26 times) the Rs 2.74 crore for Q2-2013 and 34.5 per cent more than the Rs 4.61 crore in Q1-2014. Other expense for Q2-2014 at Rs 11.8 crore was 42.8 per cent lower than the Rs 20.63 crore for Q2-2013 and 23.6 per cent lower than the Rs 15.45 crore for Q1-2014.
EBIT for Q2-2014 at Rs 50.31 crore was 16.4 per cent higher than the Rs 42.35 crore for Q2-2013 and 9.1 per cent more than the Rs 46.1 crores for Q1-2014.
Said Lulla, “We remain excited about our collaboration with HBO Asia and the opportunity it presents among the premium television market within India. We are also looking forward to the high profile releases in the remainder of the fiscal year such as Ram Leela, Kochadaiyaan, Happy Ending, and a number of smaller budget high concept movies that are slated to be released in the fiscal under review.”
Eros says that its collaboration with HBO Asia continues to receive an encouraging response after the launch of its two new advertisement free channels in February 2013 – HBO Defined and HBO Hits that are not only available on Dish and Airtel DTH platforms, but also on digital cable platforms such as Hathway and GTPL.
Further during Q2-2014, the company’s online entertainment portal Eros Now added a host of Bollywood titles acquired from UTV and Viacom to its movie subscription service.
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.
