Financials
Zee Media numbers up on higher ad revenue for Q3 2019
BENGALURU: The Essel group’s television news broadcasting arm Zee Media Corporation Ltd (ZMCL) reported a 123.1 per cent growth (more than double) in consolidated profit after tax (PAT) for the period ended 31 December 2018 (Q3 2019, quarter or period under review) as compared (year-on-year comparison, y-o-y) to the corresponding year ago quarter (Q3 2018, year ago quarter). PAT in Q3 2019 was Rs 27.20 crore as compared to Rs 12.19 crore in Q3 2018. ZMCL consolidated simple operating EBITDA at Rs 57.99 crore in Q3 2019 was 26 per cent more than the Rs 46.03 crore in Q3 2018.
The company’s consolidated operating revenue increased 22.7 per cent y-o-y in Q3 2019 to Rs 194.22 crore from Rs 158.30 crore in the year ago quarter. Total income increased 23.2 per cent y-o-y in Q3 2019 to Rs 196.45 crore from Rs 159.49 crore in Q3 2018.
In its earnings release, ZMCL reported 21.9 per cent y-o-y growth in advertising revenue for Q3 2019 at Rs 175.51 crore from Rs 143.95 crore. Subscription revenue increased 10.8 per cent y-o-y to Rs 13.01 crore in Q3 2019 from Rs 11.74 crore. Other sales and services increased by 1.18 times in Q3 2019 to Rs 5.7 crore from Rs 2.61 crore in the corresponding year ago quarter.
Let us look at the other numbers reported by ZMCL
ZMCL’s total expenditure in Q3 2019 increased 21.7 per cent y-o-y to Rs 155.16 crore from Rs 127.52 crore. Employee benefits expense in the quarter under review increased 18.1 per cent y-o-y to Rs 38.87 crore from Rs 32.92 crore in Q3 2018. The company’s marketing promotion and distribution expenses in Q3 2019 increased 30.9 per cent y-o-y to Rs 22.01 crore from Rs 16.81 crore in the corresponding year ago quarter.
Operating costs in Q3 2019 increased 26.3 per cent y-o-y to Rs 29.50 crore from Rs 23.36 crore. Other expenses in Q3 2019 increased 17 per cent to Rs 45.85 crore from Rs 39.18 crore in Q3 2018.
It may be noted that ZMCL has sold its entire equity stake in Ez-Mall Online Ltd to a related party at an aggregate consideration of Rs. 8.60 crore. Accordingly, Ez-Mall Online Ltd ceased to be a subsidiary of ZMCL with effect from 30 June 2018 and gain on disposal of investments of approximately Rs 41.21 crore has been recognised during the previous quarter and shown as exceptional items. Also, during the previous quarter, ZMCL completed the acquisition of balance 40 per cent equity stake in its subsidiary Zee Akaash News Pvt Ltd (ZANPL). Accordingly, ZANPL became a wholly owned subsidiary of the company with effect from 1 June 2018 and figures for the current quarter are not comparable with previous periods presented in the consolidated financial results says the company.
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.
