Financials
Higher expenses, loss from F&B and gaming curb PVR Q2-2015 PAT
BENGALURU: Last fiscal (FY-2014), Indian motion picture exhibition, production and distribution house PVR Limited (PVR) entered the Rs 1000 crore club by posting operating income (TIO) of Rs 1351.23 crore for the year. In Q2-2015, the company recorded a jump in TIO of 10.5 per cent to Rs 400.20 crore from Rs 362.26 crore in the immediate trailing quarter and recorded a 9.4 per cent increase from the Q2-2014 TIO of Rs 365.77 crore. In HY-2015, PVR reported TIO of Rs 762.46 crore, up 8.8 per cent from the Rs 700.96 crore in HY-2014.
The company’s PAT in Q2-2015, however did not quite keep up with the PT reported in the corresponding quarter of last year. Q2-2015 PAT at Rs 9.2 crore, though 20.1 per cent more than the Rs 7.66 crore in Q1-2015, was just a third of the PAT of Rs 27.55 crore reported in Q2-2014. For HY-2015, PVR’s PAT at Rs 16.86 crore was 59 per cent lower than the Rs 41.15 crore in HY-2014.
Note: 100,00,000 = 100 Lakhs = 10 million = 1 crore.
Its movie exhibition segment’s HY-2015 numbers were poor as compared to HY-2014. Further, higher total expenditure, higher loss from its ‘Others segment’ that comprises of bowling, gaming and restaurant services were partly responsible for erosion of the lower HY-2015 operating profits generated by PVR’s Movie exhibition segment.
PVR’s Others’ segments loss widened to more than double in Q2-2015 to Rs 5.04 crore from Rs 2.46 crore in Q1-2015 and Rs 2.42 crore in Q2-2014. Loss in HY-2015 also widened to Rs 1.21 crore from Rs 0.02 crore in HY-2014.
Let us look at the other Q2-2015 and HY-2015 numbers reported by PVR
PVR reported Total Expenditure of Rs 372.66 crore for Q2-2015, which was 10.7 per cent more q-o-q than the Rs 336.68 crore and 19.5 per cent more y-o-y than the Rs 311.88 crore. For HY-2015, TE was 7.1 per cent higher at Rs 709.34 crore against Rs 605.92 crore in HY-2014.
The company’s Film Exhibition Cost (FEC) in Q2-2015 went up 6.6 per cent in Q2-2015 to Rs 93.25 crore from Rs 87.48 crore in Q1-2015 and was 0.9 per cent more than the Rs 92.39 crore in Q2-2014. HY-2015 FEC at Rs.180.73 crore was 1.8 per cent more than the Rs 177.55 crore in HY-2014.
Movie production expense (MPE) in Q2-2015 was Rs 12.68 crore versus Rs 3.32 crore in Q1-2015 and Rs 0.21 crore in Q2-2014. For HY-2015, MPE at Rs 16 crore was 4.4 times the Rs 3.66 crore in HY-2014.
The cost of Food and Beverages consumed (food) in Q2-2015 at Rs 28.65 crore was 3.7 per cent more than the Rs 27.63 crore in Q1-2015 and 14.3 per cent more than the Rs 25.07 crore in Q2-2014. For HY-2015 food costs fell 15.3 per cent to Rs 47.65 crore from Rs 56.28 crore in HY-2014.
PVR’s other expense (OE) in Q2-2015 at Rs 32.78 crore was 16.2 per cent more than the Rs 28.2 crore in Q1-2015 and 5.2 per cent more than the Rs 31.15 crore in Q2-2014. OE in HY-2015 was almost flat (up by 0.5 per cent) at Rs 60.98 crore as compared to the Rs 60.70 crore in HY-2014.
Segment Revenue
Three segments add to PVR’s numbers-Movies Exhibition, Movie production and distribution and Others that comprises of bowling, gaming and restaurant services.
Movie Exhibition
The largest contributor is Movies Exhibition. Revenue from this segment increased 8.9 per cent to Rs 368.18 crore in Q2-2015 from Rs 338.23 crore in Q1-2015 and by 7.2 per cent from Rs 343.36 crore in Q2-2014. For HY-2015, revenues from the Movies Exhibition segment increase 7.6 per cent to Rs 706.41 crore from Rs 656.44 crore in HY-2014.
Though this segment reported a 2.9 per cent growth in operating profits to Rs 27.14 crore in Q-2015 from Rs 26.37 crore in Q1-2015, its operating profit was just half of the Rs 54.22 crore reported in Q2-2014. For HY-2015, operating profit fell 44.3 per cent to Rs 53.51 crore from Rs 96.13 crore in HY-2014.
Movie production and distribution
Revenue from PVR’s MPD segment in Q2-2015 was 2.7 times at Rs 18.87 crore as compared to the Rs 6.99 crore in Q1-2015 and 3.1 times the Rs 6.12 crore in Q2-2014. In Hy-2015, revenue from the MPD segment went up 2.1 times to Rs 25.86 crore from Rs 12.44 crore in HY-2014.
This segment returned an operating profit of Rs 1.34 crore in Q2-2015 versus a loss of Rs 0.56 crore in Q1-2015 and a small profit of Rs 01 crore in Q2-2014. For HY-2015, this segment reported an operating profit of Rs 0.78 crore versus a loss of Rs 0.95 crore in HY-2014.
Others
PVR’s Others segment reported a 6.7 per cent drop in revenue to Rs 18.19 crore in Q2-2015 from Rs 19.5 crore in Q1-2015 and a drop of 2.8 per cent from Rs 18.72 crore in Q2-2104. For HY-2015, this segment’s revenue was almost flat at Rs 37.69 crore versus Rs 37.62 crore in HY-2014.
Other numbers for this segment has been mentions avove.
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.
