Financials
Star Plus expands 9-10 pm viewership with ‘Miilee’, ‘Kkavyanjali’
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MUMBAI: Star Plus has rejuvenated the 9-10 pm slot. Just when its four one-hour weeklies were slipping in ratings, the channel launched two dailies to draw in younger and newer audiences. The result: an expansion in viewership in that time band. Indiantelevision.com takes a look at the journey of the two shows, Kkavyanjali (after a four-month run) and Miilee (a month and half since launch). |
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The Kkavyanjali plot:  Kkavyanjali has had the biggest launch ever on a satellite channel with a debut rating of 13.91 in the C&S 4+ HSM, according to TAM data. And in the first week, it became the fourth most-watched show (behind “golden oldies” Kyunki…, Kahaani… and Kasauti…) and the ninth position in terms of ratings. Although Kkavyanjali could not sustain such high ratings, it has maintained its position as the fifth most popular show with an average 9 – 9.2 TVR in the 9:30 – 10 pm slot. Looking at the slot delivery from week 11 to week 19, the noticeable trend is that the slot share has gradually increased since week 15. Star’s Kkavyanjali trend:
Kavyanjali in essence has managed to increases the slot TVR from 7.9 TVR (wk 12 – wk 15) to 8.6 TVR (wk 16 – 19). The Miilee plot: Miilee, in contrast, had a lower debut rating with a 11 TVR in the 9-9.30 pm slot. But it has sustained an average TVR of 9.3 in its launch week in the HSM C&S 4+ TG, according to TAM data. The average TVRs in the fifth week grew to 10.3. Examining the pre Miilee phase, relative slot shares of the show (week 10 – week 14) stood at 67, 69, 66, 65 and 64 per cent respectively. Post Miilee ( week 15 – week 19), slot shares went up to 70, 68, 72, 71 and 72 per cent respectively. Miilee managed to weaken rival Sony’s Kkusum & Zee’s Astitva. While Star Plus in the 9-9:30 pm slot after the launch of Miilee grew to an average TVR of 9.6 ( week 15 – week 19) from 8.9 TVR (week 10 – week 14), Kkusum in the same blocks slipped from 3.4 to 3 TVR. Zee lost as well, dipping from 1.2 to 1 TVR. |
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Drawing in new audiences What is actually more significant though, is that the spike in ratings and slot share has come not so much from rival channels as from new audiences. Star Plus creative director Shailja Kejriwal says Marathi audiences from channels like DD Sahyadri, ETV and Zee Marathi have hooked on to the shows. “Marathi audiences are more progressive in their viewing patterns and Miilee as a concept is more rooted to reality and real life situations vis-?-vis the rest which have a special appeal among these viewers,” she adds. Kkavyanjali, on the other hand, has the female protagonist who is a Maharastrian in the story. This, Kejriwal states, brings in an automatic affinity with the Marathi community. Other audiences who have come in are that of the younger TG (4 – 14). Kausautii.. which runs from 8 – 8:30 pm, has a very high viewership base in this segment, but Star Plus couldn’t hold on to these audiences with its hourly weeklies in the 9-10 pm slot. Miilee, which adorns a fresh young look, has managed to retain this audience base which had been earlier flirting with other channels, says Kejriwal. Bringing in Marathi and younger audiences was very much a part of the game plan at the Star stable. “Indian audiences love high paced dramas. Non-fiction programming can never be a part of the Indian staple diet,” says Kejriwal. |
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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.
