Financials
Q2-2016, H1-2016: Network 18 reports improved results
BENGALURU: Network18 Media & Investments Limited (Network18) reported a 7.6 per cent growth in consolidated income from operations (TIO) to Rs 801.1 crore in the quarter ended 30 September, 2015 (Q2-2016, current quarter) as compared to the Rs 744.8 crore in the corresponding year ago quarter. This was a growth of 0.94 per cent as compared to the Rs 793.65 crore in Q1-2016.
Note: 100,00,000 = 100 lakh = 10 million = 1 crore
The company reported a lower consolidated loss (before tax and before prior exceptional and period items) of Rs 8.5 crore than the loss of Rs 14.8 crore in Q2-2015. The company had reported a profit before tax and before prior exceptional and period items of Rs 5.8 crore in Q1-2016.
For the half year ended 30 September, 2015 (H1-2016), the company’s TIO at Rs 1594.8 crore was 9.7 per cent more than the Rs 1453.2 crore in H1-2015. For H1-2016, the company reported a lower loss before tax and before prior exceptional and period items of Rs 2.6 crore as compared to a loss of Rs 58.7 crore in H1-2015.
EBIDTA in Q2-2016 was Rs 19.2 crore as compared to the Rs 17.3 crore in Q2-2015 and the Rs 0.1 crore in the Q1-2016. If one were to neglect the profit of Rs 43 crore earned through sale of Network18’s entire stake in Stargaze Entertainment Private Limited during Q1-2016, the company actually had a negative EBIDTA of Rs 43.3 crore in Q1-2016.
Network18 has holdings in TV18 Broadcast Limited (TV18). TV18 reported a 9.9 per cent growth in revenue to Rs 608.5 crore from Rs 553.7 crore in Q2-2015 and was 2.1 per cent more than the Rs 596.7 crore in Q1-2016. TV18 reported less than half profit after tax (PAT) of Rs 20.27 crore in the current quarter as compared to the PAT of Rs 43.23 crore in Q2-2015. The company had reported a loss of Rs 0.04 crore in the immediate trailing quarter.
TV18’s Media Operations segment reported a six per cent growth in segment revenue to Rs 565.91 crore in Q2-2016 from Rs 533.83 crore in Q2-2015 and was almost flat (fractionally lower) than the Rs 566.31 crore in the immediate trailing quarter. This segment reported a 46.9 per cent drop in operating profit to Rs 26.77 crore as compared to the operating profit of Rs 50.46 crore in Q2-2015. The segment had reported a loss of Rs 8.95 crore in the immediate trailing quarter.
TV18’s Film Production and Distribution segment reported more than double the revenue at Rs 42.62 crore in Q2-2016 as compared to the Rs 19,85 crore in Q2-2015, but was 19 per cent lower than the Rs 52.61 crore in Q1-2016. The segment reported an operating profit of Rs 1.90 crore as compared to an operating loss of Rs 4.38 crore in Q2-2015 and a profit of Rs 1.34 crore in the immediate trailing quarter.
Network18 paid 10.6 per cent more towards programming costs in the current quarter at Rs 190.6 crore as compared to the Rs 172.4 crore in the corresponding year ago quarter, but 7.6 per cent less than the Rs 206.3 crore in Q1-2016.
Network18’s distribution, advertisement and business promotion costs in Q2-2016 declined 5.7 per cent to Rs 208.2 crore as compared to the Rs 220.7 crore in Q2-2015 and declined 1.4 per cent as compared to the Rs 211.2 crore in Q1-2016.
Network18’s employee benefit expense increased 20 per cent in Q2-2016 to Rs 162.5 crore as compared to the Rs 135.4 crore in Q2-2015 and increased 1.7 per cent as compared to the Rs 159.8 crore in the immediate trailing quarter.
Network18’s finance costs in Q2-2016 declined 20.3 per cent to Rs 23.1 crore as compared to the Rs 29 crore in Q2-2015 and declined 6.9 per cent as compared to the Rs 24.8 crore in Q1-2016.
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.
