Financials
Balaji Telefilms net realization for programs improves
BENGALURU: The Ekta Kapoor led Balaji Telefilms Limited (Balaji Telefilms) had 8 shows on air at the end of the financial year 2017 (FY-17, current year, year ended 31 March 2017) on various channels in the country. The company in its investor presentation says that the net realization per hour for its programmes increased 17 percent to Rs 2.89 million in FY-17 as compared to Rs 2.47 million in the previous fiscal. In the fourth quarter of 2016, the company had had 11 shows on air, 3 of which went off air before the end of FY-16.
The company created 960 hours of television programming in the current year, 4.2 percent lower than the 1,002 hours it had created in the previous year. Revenue from Balaji Telefilms from commissioned programmes segment increased 11.4 percent to Rs 2,899.11 million in FY-17 from Rs 2,602.18 million in the previous year. The segment reported 11.2 percent lower operating profit of Rs 395.92 million in FY-17 as compared to the Rs 445.81 million in FY-16.
The segment’s soaps such like Kumkum Bhagya on various channels of the Zee Entertainment Enterprises Network Limited (Zeel) and Naagin 2 (The Network 18/Viacom 18 Network) have consistently been in Broadcast Audience Research Council of India (BARC) weekly top five programmes lists across the Hindi GEC urban and rural markets in India.
Balaji Telefilms other major segment – Films revenue more than quadrupled (went up 4.62 times) in FY-17 to Rs 1,263.30 million in the current year as compared to Rs 224.90 million in the previous year. The segment reported a higher operating loss at Rs 249.01 million in FY-17 as compared to an operating loss of Rs 134.35 million in fiscal 2016. The company says that piracy of its movies released in FY17 led to loss of revenues against marketing and productions costs already incurred which has severely affected its profitability in this period. It estimates loss of revenue on account of piracy at approximately Rs 360 million.
The company’s consolidated Total Income from Operations (TIO) increased 43.4 percent to Rs 4,389.44 million in the current year as compared to Rs 3,060.18 million in FY-16. The company reported to a higher net loss of Rs 297.35 million in fiscal 2017 as compared to a net loss of Rs 35.80 million in the previous year. Balaji Telefilms reported an Operating loss (EBIDTA) of Rs 181 million for FY-17 as compared to an operating profit of Rs 53 million in FY-17.
Balaji Telefilms consolidated total expenses for FY-17 increased 54.3 percent to Rs 4,581.23 million from Rs 2,969.65 million in the previous year. Cost of production/acquisition and telecast fees increased 2.7 percent to Rs 3,147.26 million from Rs 3,064.98 million in the previous year. Employee Benefits Expense in FY-17 increased 40.8 percent to Rs 283.43 million from Rs 201.36 million in FY-16. The company’s finance costs in FY-17 was Rs 0.36 million as compared to Rs 0.09 million in the previous year. Other expenses in FY-17 increased 2.3 percent to Rs 413.44 million from Rs 404.01 million in FY-16.
Balaji Telefilms says that it will transition from a B2B business to a Digital B2C business. It plans to build a digital B2C business through own and curated content. The company has launched its OTT platform ALT Balaji in April 2017. Balaji Telefilms says that ALT Balaji will soon have 32 new shows and 250 hours of original exclusive content in Hindi, Telugu, Tamil, Gujarati and Punjabi.
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.
