Financials
TV Today Network’s shareholders approve raising FDI limit to 26%
MUMBAI: Shareholders of the Aroon Purie led TV Today Network, which runs the Hindi news channel Aaj Tak and English news channel India Today Television, have approved to increase the foreign direct investment (FDI) limit in the company up to 26 per cent.
As of now, TV Today does not have holdings by any foreign institutional investors (FIIs). Currently, TV Today’s mother company Living Media India has a 56.92 per cent stake in the company, whereas TV Today Network managing director Aroon Purie owns 0.49 per cent, which together totals to 57.42 per cent. The remaining 42.58 per cent is held by various mutual funds, financial institutions, insurance companies, individuals, trusts and NRIs (Non Resident Indians) amongst others.
The company said that subject to approval of the Foreign Investment Promotion Board (FIPB), it’s shareholders had approved to increase the limits of foreign investment by FPI (Foreign Portfolio Investor) and FIIs up to 26 per cent and by NRIs up to 24 per cent of the paid up capital of the company, under the Portfolio Investment Scheme (PIS) of FEMA Regulations 2000.
It may be recalled that in June this year, the company’s board had approved the increase in foreign investment limit, which was subject to shareholder’s approval.
Purie along with TV Today Network head – legal & compliances, company secretary and vice president (internal audit) Dr Puneet Jain have been authorised to expedite the process by preparing all necessary documents as well as inform the concerned authorities or regulatory bodies for the same.
Currently the Indian government allows upto 26 per cent FDI and investment by NRIs, PIOs, FIIs and FPIs in media companies that publish newspapers and periodicals or run news and current affairs channels.
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.
