Financials
Eros profits more than double in third quarter 2017
BENGALURU: The Sunil Lulla led Eros International Media Limited (Eros) reported almost 2.5 times (2.496 times) consolidated profit after tax (PAT) for the quarter ended 31 December 2016 (Q3-16, current quarter) as compared to the corresponding year ago quarter (Q3-16). Eros PAT for the current quarter was Rs 101.88 crore (30.7 percent of Total Income from Operations or TIO, margin) as compared to Rs 40.81 crore (12.2 percent margin) in Q3-16.
The company’s release slate was affected by demonetisation in Q3-17. Arsing from this, Eros said in its investor presentation that it has withheld the release of some films until the situation normalises. It says that the marginal decrease in consolidated revenues is on account of a narrower film slate comprising three medium budget and 5 small budget films in Q3-17 as compared to one high budget, 4 medium budget and 10 small budget films during the Q3-16 offset by comparatively stronger catalogue revenues. Hence consolidated TIO in the current quarter declined 1 percent year-over-year (y-o-y) to Rs 332.12 crore as compared to Rs 335.38 crore in the corresponding quarter of the previous year.
Company speak
Commenting on the performance of Q3-17, Eros, executive vice chairman & MD Sunil Lulla said, “This quarter results gave us a chance to bring out the strength of our valuable library. In spite of demonetization move by the Government which had a temporary negative impact on theatrical revenues, we demonstrated our robust business model by bringing in strong contributions from catalogue sales across television and other distribution channels. Rock On 2 although impacted directly by the demonetization benefited from strong pre‐sales in television and digital streams. Although the movies released during the quarter witnessed weak box office performances due to lack of footfalls, we firmly believe, that the demonetization step, in the longer term, will throw up a huge opportunity for us to strengthen our lead in corporatising the Indian Media and Entertainment industry.”
“As we look ahead, we are investing smartly for the longer term in‐line with our portfolio approach across varied budgets and languages. Our strong industry‐leading production slate of over 50 movies in CY-17 (Calendar Year) has gone through a stringent green‐lighting process for many months. The upcoming line‐up includes highly promising projects such as five films from Trinity, two Indo‐China co‐productions, a Shahrukh Khan film from Color Yellow, two sequels from our own IPs like Vicky Donor‐2, Badlapur‐2, Munna Michael starring Tiger Shroff, Chanda Mama Door Ke starring Sushant Singh, amongst others.”
Let us look at the other numbers reported by Eros
Simple EBIDTA without other income in Q3-17 almost doubled (increased by 97.2 percent) y-o-y to Rs 131.39 crore (39.6 percent margin) from Rs 66.64 crore (19.9 percent margin).
Consolidated Net Finance cost in the current quarter increased 48.2 per cent y-o-y to Rs 11.93 crore from Rs 8.05 crore.
On account of the lower number of films released, Total Expenditure in Q3-17 declined 25.2 percent to Rs 203.18 crore from Rs 271.54 crore in Q3-16. The company’s Films rights costs including amortisation costs in Q3-17 declined 24.1 percent y-o-y to Rs 151.23 crore from Rs 199.28 crore.
Employee Benefit Expense in the current quarter increased 43 percent to Rs 20.48 crore from Rs 14.32 crore in Q3-16. Other expenses in Q3-17 declined by almost half (declined by 49.5 percent) y-o-y to Rs 28.86 crore from Rs 57.11 crore in the corresponding of the previous year.
ErosNow
The company says that Eros International’s OTT Platform Eros Now has over 20 lakh (2 million) subscribers worldwide, it has 5.5 crore (55 million) registered users worldwide across WAPP, APP and the web. The platform has rights to over 5,000 films, 250,000 audio tracks with 13 music labels providing music content.
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.
