Financials
Siti Cable reports significant improvement in EBIDTA in Q2-2014
BENGALURU: The painstaking rollout of the digitisation of India’s cable TV ecosystem and the depreciation of the rupee are taking their toll – both positively and negatively – on national MSOs. Take the case of Essel Group company Siti Cable Network Limited (Siti Cable), the erstwhile Wire and Wireless (India) Ltd (WWIL). Its latest quarter (Q2-2014) shows that the company has shown an improvement in its EBIDTA to Rs 32.98 crore which is 74 per cent higher than the previous corresponding quarter last fiscal. It’s bottomline is however stained red in Q2-2014 with a negative PAT of Rs 21.87 crore, almost double (173 per cent) the negative PAT of Rs (-12.65 ) crore the company had reported during the corresponding quarter (Q2-2013) last year. However, the loss is lower than the Rs (-27.07) crore for the immediate preceding quarter (Q1-2014).
Let us look at some other numbers for Siti Cable in Q2-2014
Operating revenue in Siti Cable’s case is primarily generated from subscriber related income especially from digitisation, income from bandwidth charges, ad income, STB activation charges and other operating revenues.
The cable network reported total revenue of Rs 162.94 crore for Q2-2014, which was 56.7 per cent more than the Rs 103.98 crore for Q2-2013 and 12.9 per cent more than the Rs 144.29 crore in Q1-2014.
Total expenses for Q2-2014 at Rs 129.96 crore were 57 per cent more than the Rs 85.06 crore for Q2-2013 and 15 per cent higher than the Rs 113.1 crore for Q1-2014.
Siti Cable claims that it is the only MSO in India which shares 25 per cent carriage revenue with local cable operators. A big chunk of its expense is carriage sharing, pay channel and related costs in the latest quarter. The company spent Rs 65.46 crore in Q2-2014 towards this head, which was 21.7 per cent higher than the Rs 53.03 crore for Q2-2013 and six per cent more than the Rs 61.8 crore during the immediate preceding quarter Q1-2014.
Siti Cable’s main operating expenses include cost of goods and services, employees’ cost, selling and distribution expenses and other expenditure. Its major cost item was cost of goods and services recorded as Rs 82.7 crore during the quarter (Q2-2014) representing 51 per cent of the total revenue in comparison to Rs 62.15 crore in Q2-2013, representing 60 per cent of the total revenue.
Siti Cable’s Selling and Distribution Expense for Q2-2014 at Rs 12.42 crore was more than quadruple (424 per cent) the Rs 2.93 crore for Q2-2013 and more than double (225 per cent) the Rs 5.51 crore for Q1-2014. Its administrative expense at Rs 25.44 crore for Q2-2014 was almost double (95 per cent more) than the Rs 13.03 crore for Q2-2013 and 22.7 per cent more than the Rs 20.74 crore in Q1-2014.
Another major cost item was foreign exchange fluctuation due to Rupee devaluation during the Q2-2014, which has been recorded at Rs 7.69 crore, says the company; the corresponding figure for Q1-2014 was Rs 5.11 crore.
Siti Cable chairman Subash Chandra said, “The industry is at an inflexion point where creating the valuable ecosystem for all stake holders be it consumer, broadcaster or last mile local cable operators will ensure sustainable growth. We see immense opportunity for digitization in India in the years ahead.”
Siti Cable CEO V D Wadhwa said, “We are pleased to report a healthy performance in the second quarter of the year, our total revenue and EBITDA in the quarter grew to Rs 162.9 crore and Rs 33 crore, a growth of 57 per cent and 74 per cent respectively over last fiscal. Our growth was largely due to greater focus on subscription revenue despite low seeding of STB’s during the quarter. We shall continue to focus on business expansion and revenue maximization in coming quarter.”
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.
