Financials
Multiplex owners demand uniform entertainment tax
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| Multiplex owners demand uniform entertainment tax |
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MUMBAI: The multiplex owners in India are looking forward to uniformity of entertainment tax in the union budget 2008-09. The other things they are insisting on are decrease in service tax on lease rentals. “The rates of entertainment tax are amongst the highest in the world. Most states levy an entertainment tax ranging from 30 to 50 per cent of ticket sales. The average rate of entertainment tax across the world is around 10 per cent of ticket sales,” said E City Ventures (Fun Republic) MD Atul Goel. Multiplex owners are awaiting abatement of 67 per cent for service tax on rent so that effective tax rate reduces to 4 per cent. They feel as the high rate of entertainment tax still exists, the domestic cinema exhibition industry also pays sales tax on food and beverage. Multiplex owners say that they are forced to pay multiple taxes which include property tax on real estate that it occupies, service tax on advertising revenues, show tax on the number of shows held and income tax on net profits.  Cinemax India CFO Jitendra Mehta says, “We await abatement of 67 per cent for service tax on rent so that effective tax rate reduces to 4 per cent.” Echoing Mehta, Goel adds that the service tax introduced on lease rentals for cinema exhibitions will virtually kill this industry, and, in turn, the entire film industry. He thinks that the entertainment tax structure needs to be re-looked to benefit the overall cinema infrastructure. Multiplex owners are demanding a one indirect tax regime. They insist that indirect taxation of goods and services should be integrated into the Goods and Service Tax (GST). Besides entertainment tax on cinema tickets should be integrated into GST. |
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.
