Financials
Q2-2015: ZEEL reports 7 per cent growth in ad revenue
BENGALURU: The Subhash Chandra led content and broadcast player Zee Entertainment Enterprises Limited (ZEEL) reported a 7.3 per cent hike in advertising revenue in Q2-2015 at Rs 625.94 crore versus the Rs 583.30 crore in the corresponding quarter of last year and a negligible 0.6 per cent more than the Rs 622.10 crore in Q1-2015. The company’s ad revenue in HY-2015 reported at Rs 1248.04 crore is 12.1 per cent more than the Rs 1133.37 crore in HY-2015.
Note: 100,00,000 = 100 Lakhs = 10 million = 1 crore.
According to the company, due to mandatory accounting changes necessitated by change in content aggregator regulation by TRAI, the current quarter’s subscription and TIO figures can’t be compared with the figures of last year.
ZEEL’s subscription figures stood at Rs 424.45 crore in Q2-2015 with domestic subscriptions of Rs.337.3 crore and international subscription figure at Rs 87.2 crore. Subscription figures for Q1-2015 was Rs 412.13 crore while Rs 458.12 crore for Q1-2014. HY-2015 subscription revenue has been reported at Rs 836.58 crore versus Rs 882.19 crore in HY-2014.
The company reported PAT at Rs 227 crore (20.3 per cent of Total Operating Revenue or TIO) in Q2-2015 which is 7.8 per cent more than the Rs 210.57 crore (19.4 per cent of TIO) in Q1-2015 crore and 3.9 per cent less than the Rs 236.31 (21.5 per cent of TIO) crore in Q2-2014. HY-2015 PAT at Rs 460.18 crore (21.2 per cent of TIO) was 5.3 per cent more than the Rs 437.04 crore (21.2 per cent of TIO) in HY-2014.
Let us look at the other Q2-2015 and HY-2014 reported by ZEEL
The company reported other sales and services income (other income) of Rs 67.43 crore in Q2-2015, which is 3.24 times the Rs 20.83 crore in Q1-2015 and 12.7 per cent more than the Rs 59.86 crore in Q2-2014. Other income announced by the company for HY-2015 at Rs 88.26 crore was 11.8 per cent more than the Rs 78.97 crore in HY-2014.
ZEEL’s TIO in Q2-2015 is at Rs 1117.82 crore versus Rs 1085.70 crore in Q1-2015 and Rs 1101.28 crore in Q2-2014. In HY-2015, the company reported Rs 2172.88 crore TIO and Rs 2074.53 crore for HY-2014.
The company’s Total expenditure (TE) for Q2-2015 at Rs 810.75 crore was 1.8 per cent more than the Rs 796.10 crore in Q1-2015 and 1.4 per cent more than the Rs 799.89 crore in Q2-2014. For HY-2015 TE was 5.8 per cent more at Rs 1576.21 crore as compared to the Rs 1490.31 crore in HY-2014.
Q-o-q, the company’s operating cost went up 8.4 per cent to Rs 470.03 crore in Q2-2014 from Rs 434.02 crore. The operating cost for this quarter was 6.7 per cent lower than the Rs 504.11 crore in Q2-2014. HY-2015 operating cost is 4.5 per cent lower at Rs 873.68 crore versus Rs 914.87 crore in HY-2014.
Employee Benefit Expense (EBE) for Q2-2015 announced at Rs 107.96 crore was 3.4 per cent less than the Rs 111.71 crore in Q1-2014 and 8.8 per cent more than the Rs 99.19 crore in Q2-2014. EBE for HY-2015 at Rs 219.67 crore was 12.8 per cent more than the Rs 194.82 crore in HY-2014.
ZEEL chairman Subhash Chandra said, “We expect the media industry to benefit from the improvement in the overall economic environment. TV spends are likely to improve and we expect television media industry to grow faster than the recent past.”
Commenting on the second quarter earnings, ZEEL managing director and CEO Punit Goenka said, “It has been a mixed quarter as far as television advertising is concerned. Even though overall economic sentiment was positive during the quarter, it translated into increased advertising spends only during the fag end of the quarter. Our expectation is that advertising spends will continue to increase during the rest of the year. Our performance in the quarter reflects the industry wise trends.”
“On the subscription front, the transition of distribution of channels from MediaPro to Taj Television is now complete, and we continue to grow in high single digits,” he added.
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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.
