Financials
Q2-2014 Den Networks reports 35 per cent higher y-o-y cable revenues
BENGALURU: Indian cable TV distribution company Den Networks Limited (Den Networks) continues to rake in the moolah with 32.4 per cent higher total revenue of Rs 271.88 crore for Q2-2014 as compared to the Rs 205.26 crore for Q2-2013 and almost flat (1.8 per cent higher) as compared to the Rs 268.69 crore for Q1-2014. The company reported a 35 per cent y-o-y jump in cable revenue for Q2-2014 at Rs 258.93 crore as compared to the Rs 192.51 crore in the corresponding quarter of last year (Q2-2013).
Note:
Den Network claims that on account of a reporting policy change, w.e.f. Q2-2014, all revenue figures exclude ‘Other Income’ which is reported separately after EBITDA, and that past period figures have also been adjusted to this effect to make it comparable. Variance/s has/have been observed between the company’s investor updates of Q1-2014 and Q2-2014 and the statements filed by the company with the stock exchanges. The differences, if any between the financial analysis for Q1-2014 and Q2-2014 must be attributed to the varied accounting methodology/communications by the company. The current analysis is being done based on the updates for Q2-2014 received.
The company reported a 35 per cent y-o-y jump in cable revenue for Q2-2014 at Rs 258.93 crore as compared to the Rs 192.51 crore in the corresponding quarter of last year (Q2-2013) on the back of strong growth in subscription revenues and higher placement revenues despite lower activation revenues in the current quarter.
Q-o-q, the company’s investor update for Q2-2014 says that its cable business revenue was almost the same as the Rs 256.41 crore for Q1-2014, a figure that is Rs 6.44 crore (about 2.45 per cent) lower than the Rs 262.85 crore the company had reported in its Q1-2014 investor update (ref Note above).
The company says that it has deployed about four lakh set top boxes (STBs) during Q2-2014 and claims a digital subscriber base of around five million in DAS phase I and II cities and about eight million analogue subscribers in DAS phase III and IV markets.
Further, Den Networks believes that the next big opportunity after full digitisation of cable TV is offering high speed broadband services to its subscribers. The company announced plans to launch its broadband service offering by late Q4, FY 2013-14 (February 2014).
Let us look at the other Q2-2014 figures announced by Den Networks
The company has reported breakup of its cable revenue as Rs 99.11 crore as subscription revenue, Rs 119.90 crore as placement revenue and Rs 29.43 crore as digital activation revenue.
Den Network’s consolidated EBITDA for Q2 -2014 was Rs 87.70 crore vs. Rs 38.73 crore in Q2-2013, a 126 per cent leap y-o-y, and eight per cent higher than the Rs 80.94 crore for Q1-2014.
Correspondingly, its cable business EDITDA for Q2-2014 at Rs 85.05 crore was 134 per cent higher than the Rs 36.36 crore for Q2-2013 and seven per cent higher than the Rs 79.39 crore for Q1-2014.
Consolidated PAT at Rs 11.18 crore for Q2-2014 was up by about 10 per cent higher as compared to the PAT of Rs 10.15 crore for Q1-2014. The company says that its cable business PAT stood at Rs 9.64 crore for Q2-2014.
Consolidated expense at Rs 224.13 crore for Q2-2014 was 21.54 per cent higher than the Rs 184.66 crore for Q2-2013, and 2.3 per cent lower than the Rs 229.69 crore for Q1-2014. Den Network paid 18.4 per cent more towards content cost at Rs 90.54 crore for Q2-2014 as compared to the Rs 76.5 crore in Q2-2013 and the 6.5 per cent higher than the Rs 85.01 crore in Q1-2014.
Depreciation and amortisation cost at Rs 37.04 crore for Q2-2013 was more than double (2.14 times) the Rs 17.29 crore for Q2-2013 and 11.47 per cent higher than the Rs 33.23 crore for Q1-2014. Den Networks has reported a foreign exchange loss of Rs 5.96 crore in its cable business for 2-2014.
Den Networks claims that there is a significant demand for its digital cable services in its existing Phase III and IV markets. The pace of seeding is expected to pick up in the next few months. It also says that it is witnessing a lot of interest from smaller players (MSOs and LCOs) from Phases III and IV areas looking to align themselves with it and is receiving several such requests on a regular basis.
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.
