Financials
Q2-2016: Raj TV YoY EBIDTA up 26%
BENGALURU: South Indian television network Raj TV Limited (Raj TV) reported 26.1 per cent higher EBIDTA (Total Income from Operations or TIO plus Depreciation & Amortisation minus Total Expenditure or TE) for the quarter ended 30 September, 2015 (Q2-2016, current quarter) at Rs 3.88 crore (21.9 per cent margin) as compared to the Rs 3.08 crore (15.5 per cent margin) in Q2-2015. EBIDTA for the current quarter was however lower than the Rs 4.47 crore (22.6 per cent margin) in the immediate trailing quarter.
Note: 100,00,000 = 100 lakh = 10 million = 1 crore
TIO in the current quarter was also 11.7 per cent lower at Rs 17.73 crore as compared to the Rs 20.08 crore in Q2-2015 and was 10.3 per cent lower than the Rs 19.76 crore in Q1-2016.
The company’s profit after tax (PAT) in Q2-2016 declined by a massive 65.9 per cent to Rs 0.26 crore (1.4 per cent margin) as compared to the Rs 0.75 crore (3.8 per cent margin) in Q2-2015 and was 77.7 per cent lower than the Rs 1.15 crore (5.8 per cent margin) in Q1-2016.
The company’s Total Expenditure (TE) in Q2-2016 at Rs 15.46 crore (87.2 per cent of TIO) was 12.2 per cent lower than the Rs 17.61 crore (87.7 per cent of TIO) and was 8.5 per cent QoQ as compared to the Rs 16.90 crore (85.2 per cent of TIO).
Raj TV’s cost of revenues in Q2-2016 declined 26.8 per cent to Rs 6.33 crore (35.7 per cent of TIO) as compared to the Rs 8.65 crore (43.1 per cent of TIO) and was 13.3 per cent lower than the Rs 7.30 crore (37 per cent of TIO) in the immediate trailing quarter.
The company’s administrative expense in Q2-2016 declined 21 per cent to Rs 2.23 crore (12.6 per cent of TIO) as compared to the Rs 2.83 crore (14.1 per cent of TIO) and was 17.9 per cent lower than the Rs 2.72 crore (13.8 per cent of TIO) in Q1-2016.
Raj TV’s employee benefit expense (EBE) in Q2-2016 at Rs 5.29 crore (29.8 per cent of TI) was 4.3 per cent lower than the Rs 5.52 crore (27.5 per cent of TIO) and was 0.5 per cent more than the Rs 5.26 crore (26.6 per cent of TIO) 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.
