Financials
Q3-2015: E. W. Scripps revenue up 49%; Retransmission revenue doubles
BENGALURU: The E.W. Scripps Company (EWS) reported 49.2 per cent YoY growth in consolidated revenue from continuing operations for the quarter ended 30 September, 2015 (Q3-2015, current quarter) at $189.69 million as compared to $123.13 million in the corresponding year ago quarter.
The company’s advertisement revenue in the current quarter increased 39.8 per cent to $144.98 million as compared to the $103.70 million in the corresponding year ago quarter. Retransmission revenue more than doubled YoY (was 2.4 times) at $36.29 million as compared to $15.24 million in Q3-2014. ‘Other’ revenues also more than doubled to $ 8.42 million from $4.19 million in the year ago quarter.
EWS net loss for Q3-2015 increased to $24.44 million as compared to the loss of $1.34 million in Q3-2014. EWS reported net loss of $24.44 million from continuing operation as compared to a profit of $1.04 million in Q3-2014. Net loss from discontinued operations in the current quarter was NIL as compared to a net loss of $2.38 million in Q3-2014.
Net loss per basic share of common stock was $0.29 in the current quarter as compared to a net income of $0.02 in Q2-2014.
EWS chairman, president and CEO Rich Boehne said, “Third-quarter performance in our core broadcast television business was aided by a comeback in automotive advertising and a leap in retransmission fees. The increase in retransmission revenue alone offset the decline in political advertising revenue in the off-cycle year.”
“In our TV markets we’re setting the stage for 2016, when increases in local news ratings, a 50 percent increase in retransmission fees, and presidential election spending across an expanded footprint of potential swing states should come together for a strong performance,” he added.
“Also in the third quarter, we expanded our reach into the fast-growing over-the-top media marketplace with the accelerated rollout of our OTT video news service Newsy. This service aimed at millennial news audiences now also includes OTT distribution on Apple TV, Comcast’s Watchable, Roku, Amazon’s Fire TV, Google Chromecast, PlutoTV and Xumo, with more to come shortly. Our expanded ambition for Newsy, changes in the marketplace, and our commitment to invest in this strategy led us to a pivot in the business model,” he said.
“On the audio side of our over-the-top strategy, we purchased Midroll, a leading podcast producer and advertising network, and then launched its subscription-based app, Howl, to strong response. Not only is Midroll a growing content play for mobile-media consumers, it’s also designed to be an alternative advertising model that largely defies ad blocking.”
“While working to build value through our current and evolving businesses, we also used our strong balance sheet and cash flow to repurchase shares. We expect our overall financial position to further strengthen as we move through the presidential election year and top our four-year business cycle.”
Segment numbers
The company has four segments: Television, Radio, Digital, Syndication and other.
EWS’ Television segment revenue in the current quarter increased 35.2 per cent to $157.44 million $116.44 million in the corresponding year ago quarter. Operating income for the segment in Q3-2015 increased two per cent to $31.71 million from $30.51 million in the corresponding year ago quarter.
On 1 April, 2015, EWS acquired the broadcast group owned by Journal Communications, Inc. The businesses acquired included 12 television stations and 34 radio stations. EWS’ Radio segment reported revenue in Q3-2015 of $20.42 million. The segment reported operating income of $4.07 million in the current quarter.
EWS’ Digital segment revenues in the current quarter more than doubled to $10.86 million as compared to the $5.36 million in q2-2014. The segment reported lower operating loss of $3.64 million in the current quarter as compared to $6.21 million in Q2-2014.
EWS’ Syndication and other segment reported 27.8 per cent decline in operating revenue to $0.97 million as compared to $1.35 million in the corresponding year ago quarter. The segment’s loss in the current quarter declined to $0.57 million from $0.67 million in the corresponding year ago quarter.
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.
