Financials
FY-16: Radio Mirchi revenue up 16 percent, crosses Rs 500 crore
BENGALURU: Indian private FM player Entertainment Network (India) Limited (ENIL), which runs the Radio Mirchi radio network in India, reported 16 percent increase in Total Income from Operations (TIO) for the year ended 31 March 2015 (FY-16, current year). Annual revenue crossed Rs 500 crore for the first time in FY-16. The company reported consolidated revenue of Rs 508.61 crore for the current year as compared to Rs 434.48 crore in the previous fiscal.
Note: (1) The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:
(a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.
(b) 10,000 lakh = 100 crore = 1 arab = 1 billion.
(2) The numbers in this report are consolidated unless stated otherwise. Consolidated quarterly numbers for the quarter ended 31 March 2016 (Q4-16) have been arrived at by deducting the company’s reported consolidated numbers for the nine month period ended 31 December 2015 (9M-16) from its reported consolidated numbers for FY-16.
The company’s consolidated profit after tax (PAT) in FY-16 declined sightly by 5.7 percent to Rs 99.99 crore (19.7 percent PAT margin) as compared to Rs 105.98 crore (24.2 percent PAT margin). ENIL’s board of directors has recommended a dividend of Re.1 per equity share of face value of Rs 10 each.
Commenting on the results, ENIL CEO Prashant Panday said, “Rs 500 crores is an important milestone in any media company’s life and I am happy we’ve crossed that! We’re now working on launching our 2nd channel in every major city in the country, as well as entering new markets like Chandigarh, Kochi and Guwahati for the first time with brand Mirchi. We look forward to a very exciting next 5-years.”
Consolidated TIO for the quarter ended 31 March 2016 (Q4-16, current quarter) increased 18.3 percent year-over-year (y-o-y) to Rs 147.20 crore from Rs 124.43 crore and increased 2.5 percent quarter-over-quarter (q-o-q) from Rs 143.56 crore in Q3-16.
Consolidated PAT in Q4-16 declined 21 percent y-o-y to Rs 20.15 crore (13.7 percent PAT margin) as compared to Rs 25.49 crore (20.5 percent PAT margin) and declined 25.3 percent q-o-q from Rs 26.99 crore (18.8 percent PAT margin).
Let us look at the other numbers reported by Radio Mirchi
ENIL’s consolidated Earnings before Interest, Depreciation, Taxes and Amortisation (EBIDTA) for FY-16 increased 9.7 percent to Rs 159.35 crore (31.3 percent EBIDTA margin) from Rs 145.25 crore (33.1 percent EBIDTA margin). EBIDTA in Q4-16 at Rs 38.53 crore (26.2 percent EBIDTA margin) increased 11.6 percent y-o-y from Rs 34.53 crore (27.7 percent EBIDTA margin), but declined 22.5 percent q-o-q from Rs 49.74 crore (34.6 percent EBIDTA margin).
ENIL total expense (TE) in FY-16 increased 18.2 percent to Rs 385.54 crore (75.8 percent of TIO) from Rs 326.10 crore (74.4 percent of TIO) in FY-15. TE in Q4-2016 at Rs 117.57 crore (79.9 percent of TIO) increased 19.8 percent y-o-y as compared to Rs 102.74 crore (71.6 percent of TIO) and increased 14.4 percent q-o-q from Rs 102.74 crore (71.6 percent of TIO).
ENIL paid 20.2 per cent higher license fee in FY-16 at Rs 26.19 crore (5.1 percent of TIO) as compared to Rs 21.79 crore (5 percent of TIO) in FY-15. License fee in Q4-2016 increased 5.7 percent y-o-y to Rs 6.37 crore (4.3 percent of TIO) as compared to Rs 6.03 crore (4.8 percent of TIO), but declined 7.2 percent q-o-q from Rs 6.87 crore (4.8 percent of TIO) in Q3-16.
The company’s marketing expense in FY-16 increased 31.7 percent to Rs 99.74 crore (19.6 percent of TIO) from Rs 75.76 crore (17.3 percent of TIO) in FY-15. Marketing expense in Q4-2016 at Rs 41.21 crore (28 percent of TIO) increased 30.5 percent y-o-y from Rs 31.57 crore (25.4 percent of TIO) and increased 29.7 percent q-o-q from Rs 31.78 crore (22.1 percent of TIO).
The company’s programming and royalty expenses in the current year increased 16.8 percent to Rs 17.86 crore (3.5 percent of TIO) from Rs 15.28 crore (3.5 percent of TIO) in FY-15. Programming and royalty expenses in the current quarter increased 20.3 percent y-o-y to Rs 5.09 crore (3.5 percent of TIO) from Rs 4.23 crore (3.4 percent of TIO) 6.8 percent q-o-q from Rs 4.77 crore (3.3 percent of TIO) in Q3-16.
Employee Benefit Expense (EBE) in FY-16 increased 13 percent to Rs 93.53 crore (18.4 percent of TIO) from Rs 82.76 crore (18.9 percent of TIO) in the previous year. EBE in Q4-16 at Rs 25.06 crore (17 percent of TIO) increased 19.4 percent y-o-y from Rs 20.98 crore (16.9 percent of TIO) and increased 1.4 percent q-o-q from Rs 24.70 crore (17.2 percent of TIO).
Other expenses in FY-16 increased 14.6 percent to Rs 111.95 crore (22 percent of TIO) from Rs 97.64 crore (22.3 percent of TIO) in FY-15. Other expenses in Q4-16 at Rs 30.94 crore (21 percent of TIO) increased 14.2 percent y-o-y from Rs 27.08 (21.8 percent of TIO) and increased 20.3 percent q-o-q from Rs 25.72 crore (17.9 percent of TIO).
ENIL won 17 stations in Phase 3 auctions and has launched Bengaluru, Guwahati and Kochi stations. Bengaluru is Radio Mirchi’s first launch in the second frequencies network.
Radio Mirchi with Delhi International Airport (P) Limited (DIAL) has launched ‘Mirchi T3’ radio at Terminal 3 of Delhi Airport. With Mirchi T3, Radio Mirchi looks to cater to the niche group of premium listeners who frequent India’s premier airport.
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.
