Financials
Network18, TV18 report growth in revenue & operating profit for FY-2015; Q4-15
BENGALURU: Reliance’s profit-making magic seems to be working on its newly acquired baby – Network 18 Media and Investments Limited (Network18). The company reported a 16.1 per cent growth in consolidated operating revenue in FY-2015 to Rs 3126.6 crore from Rs 2692.4 crore in FY-2014.
For the fourth quarter (Q4-2015), revenue increased 14 per cent to Rs 841.4 crore from Rs 738.3 crore in the corresponding year ago quarter and was up 1.1 per cent as compared to the Rs 831.9 crore in the immediate trailing quarter.
Consolidated operating profit before depreciation, interest and tax (PBDIT) was up 92.2 per cent in FY-2015 to Rs 153 crore from Rs 79 crore in FY-2014. Operating PBDIT in Q4-2015 at Rs 69.7 crore was up 71.5 per cent as compared to the Rs 40.6 crore in Q4-2014 and was 3.8 per cent more than the Rs 67.1 crore in Q3-2015.
According to Network18, the company has made a one-time exceptional adjustment of Rs 1045.3 crore and hence reported a loss of Rs 1059.91 crore in FY-2015 as compared to a loss of Rs 36.77 crore in FY-2014. For Q4-2015, the company has reported a profit after tax (PAT) of Rs 10.58 crore as compared to a loss of Rs 4.12 crore in Q4-2014 and a loss of Rs 12.15 crore in Q3-2015.
The improvement in results reported by its subsidiary listed company TV18 Broadcast Limited (TV18) for FY-2015 and Q4-2015 were as good as those reported by Network18.
TV18 reported a 17.8 per cent growth in its income from operations to Rs 2318.4 crore in FY-2015 from Rs 1968.1 crore in FY-2014. Income from operations for TV18 grew 11.8 per cent in Q4-2015 to Rs 629.7 crore as compared to the Rs 563.3 crore in Q4-2014 and was 3.7 per cent higher than the Rs 607.2 crore in Q3-2015.
TV18’s consolidated PBDIT in FY-2015 at Rs 252.5 crore was 19.8 per cent higher than the Rs 210.7 crore reported for the last fiscal. PBDIT for Q4-2015, at Rs 82.6 crore, was 17.7 per cent higher than the Rs 70.2 crore in Q4-2014 and four per cent more than the Rs 79.4 crore in Q3-2015.
Onetime adjustments were also made by TV18 to the extent of Rs 233.29 crore in FY-2015, which resulted in the company reporting a loss of Rs 38.47 crore as compared to a PAT of Rs 85.59 crore in FY-2014. However, after share of associate and minority interest, TV18 reported a PAT of Rs 44.54 crore in FY-2015 as compared to a PAT after share of associate and minority interest of Rs 103.63 crore in FY-2014.
In Q3-2015, TV18 reported PAT after share of associate and minority interest of Rs 95.47 crore in Q4-2015 as compared to the Rs 35.91 crore in Q4-2014 and Rs 60.38 crore.
Network18’s media operations segment reported a 16.8 per cent growth in revenue in FY-2015 to Rs 3061.69 crore as compared to the Rs 2620.69 crore in FY-2014. Revenue from this segment in Q4-2015 at Rs 832.63 crore was 15 per cent more than the Rs 723.81 crore in Q4-2014 and 2.8 per cent more than the Rs 810.01 crore in Q3-2015.
Network18’s media operations segment reported operating profit of Rs 31.63 crore in FY-2015, which was 43.3 per cent lower than the Rs 55.77 crore in FY-2014. For Q4-2015, this segment reported an operating profit of Rs 58.62 crore, which was 243.4 per cent more than the Rs 24.08 crore in the corresponding year ago quarter and 33.9 per cent more than the Rs 43.79 crore in the previous quarter.
Network18’s other segment – film production and distribution reported half the revenue in FY-2015 at Rs 50.96 crore as compared to the Rs 101.77 crore in FY-2015. For Q4-2015, revenue from this segment was Rs 4.08 crore, for Q4-2014, the segment reported negative revenue of Rs 14.61 crore and for Q3-2015, the revenue stood at Rs 11.99 crore.
Film production and distribution segment reported an operating loss of Rs 6.44 crore in FY-2015 as compared to a much higher operating loss of Rs 24.20 crore in FY-2014. Operating loss of Q4-2015 was lower at Rs 2.44 crore as compared to the operating loss of Rs 4.59 crore in Q4-2014 and an operating profit of Rs 1.33 crore in Q3-2015.
The company upped its programming cost in FY-2015 by 44.6 per cent to Rs 768.39 crore from Rs 531.56 crore in FY-2014. Programming costs in Q4-2015 were significantly higher by 55.4 per cent at Rs 208.01 as compared to the Rs 133.82 crore in Q4-2014 and 2.9 per cent more than the Rs 202.09 crore in Q3-2015.
Besides TV18, which contributes to the company’s television operations, Network18 Digital and Network18 Publishing also contribute to Network18 numbers.
Company quote:
Among the major channels that make up Network18’s television operations, the company says that during Q4-2015, CNBC-TV18 and CNBC Awaaz maintained leadership positions in their respective genre, with market shares of 58 per cent and 60 per cent respectively. CNBC Awaaz marked the completion of 10 years of leadership since inception during this quarter. CNBC Bajar launched in FY-15 to strong positive sentiment from the Gujarati business community, also saw attractive gains in viewership.
CNN-IBN led the English general news category in Q4 FY15 with a 33 per cent market share and increased its viewership by 43 per cent over Q3-2015.
In the GEC segment, Colors was the No. 1 channel on weekends prime time across all four quarters of the year and rose to No. 2 spot on weekday prime time in Q4 FY15, up from No. 3 in Q3 FY15. During Q4 FY15, MTV Indies reach grew 13 per cent over Q3-2015 and Vh1 led the English music and lifestyle genre with a 24 per cent market share, while Nick continued to lead the kids’ genre throughout FY-15.
Notes: Equator Trading Enterprises Private Limited (“Equator”) including its subsidiaries Panorama Television Private Limited and Prism TV Private Limited had become wholly owned subsidiary of the Company with effect from January 22, 2014. Hence, the consolidated results of the current period include the results of these subsidiary companies. Eenadu Television Private Limited had also become an associate with effect from January 22, 2014 and its results have been accounted as “Associate” under Accounting Standard 23 on Accounting for Investments in Associates in Consolidated Financial Statements. To this extent, the results of the current year are not comparable with the corresponding previous year.
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.
