Brands
PVR Inox reports higher Q3 revenue, profit jumps
MUMBAI: It appears PVR Inox is finally enjoying its “happily ever after” on the balance sheet, as the multiplex giant’s latest financial script reads more like a blockbuster than a flop. For the quarter ending 31 December 2025, the company reported consolidated revenue of Rs. 18,798 million, a healthy increase from Rs. 17,173 million in the same period last year. With footfalls steady and concession counters busy, the company’s total income for the quarter stood at Rs. 19,196 million, suggesting that the appeal of the big screen remains intact.
While the top-line growth offers a feel-good headline, the deeper narrative is more layered. Consolidated net profit for the quarter came in at Rs. 957 million, a strong jump from Rs. 359 million a year earlier. However, for the nine-month period ending December 2025, the company still reported a consolidated net loss of Rs. 1,546 million, indicating that the broader financial journey is not entirely out of the woods.
Across business segments, movie exhibition continued to be the primary revenue engine, generating Rs. 18,153 million during the quarter. The production and distribution segment contributed Rs. 1,178 million, while other segments added Rs. 395 million to the overall performance. Together, these divisions underscored the company’s reliance on theatrical operations while maintaining support from allied businesses.
The quarter also featured an exceptional item of Rs. 446 million on a consolidated basis, and Rs. 423 million on a standalone basis. This was largely attributed to the incremental impact of India’s new Labour Codes, which have consolidated 29 existing laws into four new frameworks. The adjustment reflects the company’s effort to align with the updated regulatory environment.
In a notable post-quarter development, PVR Inox disposed of its entire 93.27 per cent stake in subsidiary Zea Maize Private Limited for Rs. 2,268 million. The transaction was completed after the reporting period, meaning it did not affect the quarter’s adjustments, but it signals a move toward a leaner and more focused corporate structure.
Key financial ratios pointed to improving efficiency. The debt-to-equity ratio dropped to 0.15 from 0.23 a year earlier, indicating reduced reliance on borrowing. Interest service coverage rose sharply to 18.58 from 12.08, suggesting stronger capacity to meet interest obligations. Meanwhile, the operating margin for the quarter held steady at 32.36 per cent.
As the final credits roll on 2025, PVR Inox appears to be regaining its footing. With consolidated total expenses for the nine-month period at Rs. 50,436 million, management’s focus remains on balancing costs while sustaining audience momentum. The trading window is set to reopen on 7 February 2026, and investors will be watching closely to see whether the next quarter delivers another hit.
Brands
Lululemon picks former Nike executive to be its next chief
Heidi O’Neill, who helped grow Nike into a $45 billion giant, will take the top job in September
CANADA: Lululemon has found its next chief executive, and she comes with serious credentials. The athleisure giant named Heidi O’Neill as its new CEO on Wednesday, ending a search that has left the company running on interim leadership since earlier this year. O’Neill will take charge on September 8, 2026, based out of Vancouver, and will join the board on the same day.
O’Neill brings more than three decades of experience across performance apparel, footwear and sport. The bulk of that time was spent at Nike, where she was a central figure in one of corporate sport’s great growth stories, helping take the company from a $9 billion business to a $45 billion global powerhouse. She oversaw product pipelines, brand strategy and consumer connections, and played a significant role in shaping how Nike spoke to athletes around the world. Earlier in her career, she worked in marketing for the Dockers brand at Levi Strauss. She also brings boardroom experience from Spotify Technology, Hyatt Hotels and Lithia and Driveway.
The board was unequivocal in its enthusiasm. “We selected Heidi because of the breadth of her experience, her demonstrated success delivering breakthrough ideas and initiatives at scale, and her ability to be a knowledgeable change and growth agent,” said Marti Morfitt, executive chair of Lululemon’s board.
O’Neill, for her part, was bullish. “Lululemon is an iconic brand with something rare: genuine guest love, a product ethos rooted in innovation, and a global platform still in the early stages of its potential,” she said. “My job will be to accelerate product breakthroughs, deepen the brand’s cultural relevance, and unlock growth in markets around the world.”
Until she arrives, Meghan Frank and André Maestrini will continue as interim co-CEOs, before returning to their previous senior leadership roles once O’Neill steps in.
Lululemon is betting that a Nike veteran who helped build one of the world’s most powerful sports brands can do something similar for an athleisure label that has genuine love from its customers but is still chasing its full global potential. O’Neill has done it before at scale. The question now is whether she can do it again.
