Financials
Fever FM revenue up but HT Media revenue shrinks
BENGALURU: Indian media group HT Media Limited (HT Media) reported a drop in consolidated revenues and increase in consolidated profits for the quarter ended 30 September 2017 (Q2-18, current quarter) as compared to the corresponding year ago quarter (y-o-y). The company reported 11.2 percent y-o-y drop in consolidated total income at Rs 6,041.3 million in Q2-18 as compared to Rs 6,802.3 million. Net profit after tax, however, more than doubled (up 2.14 times) y-o-y to Rs 662.2 million in the current quarter as compared to Rs 309.3 million.
HT Media has four segments-Printing and Publishing of Newspapers & Periodicals (Printing); Radio Broadcast & Entertainment (Radio); Digital; and Multimedia Content Management (Multimedia). The y-o-y drop in revenue was mainly due to drop in revenues of the company’s printing segment.
The company reported an 18.4 percent increase in revenue for its radio segment that operates radio stations under the brand Fever FM for the current quarter. HT Media’s radio segment reported an operating profit of Rs 26.2 million as compared to an operating loss of Rs 3.3 million in Q2-17. HT Media, in its investor presentation for the current quarter, informed that its radio business continued robust growth and increase in profit margins. It says further there was revenue growth in core stations, while new stations continued to perform adding to top line in a profitable manner and that synergies in costs had brought in margin expansion.
Printing segment revenue declined 5.9 percent y-o-y in Q2-18 to Rs 4,948.9 million from Rs 5,259.5 million in Q2-17. Printing segment operating profit more than doubled (2.25 times) to Rs 1,048.8 million in Q2-18 as compared to Rs 467.2 million in Q2-17. HT Media’s digital segment revenue declined 9.5 percent to Rs 337 million from Rs 372.5 million. Digital segment reported an operating loss of Rs 116.2 million in the current quarter as compared to an operating loss of Rs 128.6 million in Q2-17.
HT Media’s Multimedia segment reported operating revenue of Rs 444.6 million and an operating profit of Rs 8.5 million. The Multimedia segment had revenue of Rs 473.4 million in Q1-18 and an operating profit of Rs 2.9 million.
HT Media chairperson and editorial director Shobhana Bhartia said, “Advertising revenue growth continues to be a challenge in our coreprint business, with this quarter witnessing high level of uncertainty across industries on account of GST implementation. Our radio business continues to do well. New radio stations are generating revenue and the entire radio business witnessed an increase in operating profits. While advertising revenue in print has been soft, operating profits continue to grow steadily on the back of strong cost management and aided by favourable currency and commodity rates.”
“GST is expected to stabilise soon which should lead to a better macroeconomic environment and result in higher advertising spends. With growth coming back to core business, we hope to deliver better results to our shareholders,” added Bhartia.
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.
