Financials
Zeel reports higher numbers on improved ad, subs revenues
BENGALURU: The Subhash Chandra-led Zee Entertainment Enterprises Ltd (Zeel) reported a 15 per cent year on year (y-o-y) growth in total revenue for the quarter ended 30 June 2018 (Q1 2019, period, or quarter under review) as compared to the corresponding year ago quarter (Q1 2018). The company’s advertisement revenue increased 18.6 per cent y-o-y in Q1 2019, while its subscription revenue increased 8.3 per cent y-o-y. Zeel’s total revenue in Q1 2019 was Rs 1,772 crore as compared to Rs 1,540.3 crore in the corresponding year ago quarter. Advertisement revenue during the quarter under review increased to Rs1,146 crore from Rs 966.5 crore in Q1 2018. Subscription revenue increased to Rs 518.6 crore in Q1 2019 from Rs 479.1 crore in Q1 2018. Other sales and services increased 13.4 per cent y-o-y in Q1 2019 to Rs 107.4 crore from Rs 94.7 crore in Q1 2018.
Operating profit (EBITDA) during the period increased 16.8 per cent y-o-y to Rs 565.7 crore from Rs 484.4 crore in Q1 2018. Profit after tax (PAT) increased 31.4 per cent to Rs 326.4 crore in Q1 2019 rom Rs 248.4 crore in Q1 2018.
International Business
Zeel reported international business revenue in Q1 2019 of Rs 195.1 crore. International advertisement revenue grew 2.1 per cent y-o-y to Rs 59 crore. International subscription revenue in Q1 2019 was 6.6 per cent lower at Rs 93.4 crore. The company reported other sales and services revenue of Rs 42.7 crore from its international business.
Company speak
Zeel chairman Chandra said, “The year has commenced on a positive note, for both the company as well as the economy. Government initiatives to aid the farming sector, coupled with the normal monsoon for the third successive year is encouraging for the rural economic growth. The growth in consumption, now being driven by rural as well, bodes well for advertising spends. In addition, increasing availability and adoption of digital medium, across different sectors, will have a positive effect on the country’s growth trajectory.”
Zeel managing director & CEO Punit Goenka said, “We are happy with the all-round performance of our portfolio during the first quarter of this fiscal. Our domestic advertising growth of 22 per cent was driven by higher ad spends across categories and increase in our network viewership share. Based on our discussions with the advertisers and the visibility on ad campaigns, we believe that the ad growth for the industry could be higher than the initial estimates for this financial year.”
“On the subscription front, TRAI has notified that the new tariff order will come into effect starting January 2019. We have started discussions with our distribution partners for seamless transition to the new regime. If implemented as envisaged, the regulation would be beneficial for all the stakeholders and could be a catalyst for ARPU growth. Even under the new regime we will be able to grow our subscription revenue at a healthy pace,” added Goenka.
“ZEE5, our digital OTT offering, is already amongst the top-5 digital entertainment platforms in India. We are confident that the pace of subscriber addition will further accelerate with the roll-out of original content and exclusive movie premieres. We are on track to be the largest producer of digital content in the country and are committed to make ZEE5 the #1 entertainment destination for digital consumers,” revealed Goenka.
“Our domestic broadcast portfolio further increased its market share and continues to be the leading television entertainment network in the country. The increase in viewership share is across the markets with strong traction particularly in our regional channels. We believe that there is still room for monetising the increase in market share, which will allow us to grow ahead of the market,” assured Goenka.
Let us look at the other numbers reported by Zeel
Total expenditure during the period under review increased 14.3 per cent to Rs 1,206.4 crore in Q1 2019 from Rs 1,206.4 crore from Rs 1,055.9 crore in Q1 2019. Employee benefit expense increased 2.7 per cent y-o-y in Q1 2019 to Rs 171.38 crore from Rs 166.89 crore in Q1 2018. Operational cost in the quarter under review increased 14 per cent y-o-y to Rs 668.32 crore from Rs 586.34 crore in Q1 2018.
Finance costs declined by 64 per cent y-o-y in Q1 2019 to Rs 5.29 crore from Rs 14.7 crore during the corresponding period of the previous year. Other expenses increased 26.9 per cent y-o-y in quarter under review to Rs 226.52 crore from Rs 178.57 crore in Q1 2018.
The company incurred 60 per cent lower fair value loss on financial instruments at fair value through profit and loss for Q1 2019 at Rs 21.29 crore as compared to Rs 53.21 crore in Q1 2018.
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.
