Financials

Time Warner reports y-o-y increase in Q3-2014

Published

11 years ago

November 6, 2014

BENGALURU: Time Warner Inc (Time Warner) posted 34 per cent higher adjusted EPS for Q3-2014 (quarter ended 30 September 2014) at US$ 1.22 (on a lower adjust outstanding share base) and better than last quarter’s US$ 0.98.

Diluted income per share in Q3-2014 was US$1.11 (average 870.2 million diluted shares outstanding) versus the US$ 1.25 (average 938.8 million diluted shares outstanding) in Q3-2013 and US$ 0.98 (average 894.2 million diluted shares outstanding) in Q2-2014.

For Q3-2014, Time Warner reported total revenue (TIO) of US$ 6243 million, which was 3.3 per cent more y-o-y at US$ 6042 million, but 8 per cent less that the US$ 6788 million in Q2-2014. Total adjusted operating income at US$ 993 million in Q3-2014 was 37.5 per cent less than the US$ 1589 million in Q3-2013 and 38.6 per cent lower than the US$ 1618 million in Q2-2014.

Time Warner chairman and CEO Jeff Bewkes said, “We had another good quarter, featuring solid revenue growth as well as strong growth in Adjusted EPS. As we discussed at our Investor Event last month, we’ve refocused the company over the past few years to aggressively pursue the huge global opportunities we see in video content. And once again, we are seeing the benefits of our increased investments in great content and storytelling. In the quarter, both Turner and HBO had double-digit increases in subscription revenues, reflecting the growing strength and appeal of their programming. HBO received 19 Primetime Emmy Awards, the most of any network for the 13th straight year, including five Emmys for newcomer True Detective. At Turner, TNT ranked as ad-supported cable’s #1 primetime network for the second consecutive quarter, TBS was the #2 ad-supported cable network in primetime among adults 18-49 and 25-54, and Adult Swim again shined as ad-supported cable’s #1 total day network among its key adult demos. Turner’s extension last month of its longstanding relationship with the NBA through the 2024-25 season is another great example of investing in distinctive programming that will serve us well for years to come. This fall, Warner Bros. is once again the number one producer for broadcast television, including a strong slate of new shows. Season-to-date, Gotham ranked as broadcast’s #2 new show among adults 18-49, while The Flash had the most-watched telecast ever on The CW. These shows are among five series featuring DC characters that will air this season. DC is also a key component of the ambitious film slate that Warner Bros. recently unveiled. Further demonstrating our continuing commitment to shareholder returns, so far this year we’ve returned over $5.7 billion to our shareholders in the form of share repurchases and dividends.”

Time Warner has three segments that contribute to its numbers – Turner, Home Box Office (HBO) and Warner Bros (WB). Turner, which contributes about 40 per cent of TIO, disappointed with a drop in its share of adjusted operating income to 35.2 per cent versus the approximately 60 per cent during Q2-2013, Q3-2013 and Q2-2014. All of Time Warner’s segments reported y-o-y reduction of adjusted operating income in Q3-2014.

Let us look at the numbers reported by the segments of Time Warner for Q3-2014

Turner

Turner reported revenue of US$ 2556 million (39.2 per cent of TIO), which was 4.6 per cent more than the US$ 2338 million (38.7 per cent of TIO), but 11.1 per cent lower than the US$ 2750 million (40.5 per cent of TIO) in the immediate trailing quarter ended June 30, 2014.

Adjusted operating income from this segment fell a massive 64 per cent to US$ 350 million (35.2 per cent of total adjusted operating income) from US$ 971 million (61.1 per cent of total operating income) and was 62.8 per cent lower than the US$ 940 million (35.2 per cent of total adjusted operating income)in Q2-2014.

Here is what the company has to say about its Turner segment results:

Revenues rose 5 per cent (US$ 108 million) to US$ 2.4 billion, mainly due to growth of 10 per cent (US$ 117 million) in subscription revenues and 17 per cent (US$ 12 million) in content revenues, offset in part by a decline of 2 per cent (US$ 18 million) in advertising revenues. The increase in subscription revenues was primarily due to higher domestic rates and international growth. Advertising revenues decreased due to declines at Turner’s international networks. Advertising revenues at Turner’s domestic networks were essentially flat.

Adjusted Operating Income declined 64 per cent (US$ 621 million) to US$ 350 million, as higher revenues were more than offset by higher programming costs and increased restructuring and severance costs. Programming costs grew 84 per cent due to the current year quarter’s US$ 482 million of charges related to Turner’s decision to no longer air certain programming. Excluding these charges, programming costs increased in the low double digits due to higher costs associated with increased volume of original programming and the first year of Turner’s new agreement with Major League Baseball. The current year quarter included US$ 199 million of restructuring and severance costs compared to US$ 30 million in the prior year quarter. Excluding the programming and restructuring and severance charges, Adjusted Operating Income would have been US$ 1.0 billion.

HBO segment

HBO reported 9.9 per cent increase in revenue in Q3-2014 at US$ 1304 million (20.9 per cent of TIO) from US$ 1186 million in Q3-2013, but was 8 per cent less than the US$ 1417 million (20.9 per cent if TIO) in Q2-2014.

HBO’s adjusted operating income at US$ 380 million (38.3 per cent of total adjusted operating income) was 4.3 per cent lower than the US$ 397 million (25 per cent of total adjusted operating income) in Q3-2013 and 31.2 per cent lower than the US$ 552 million (34.1 per cent of total adjusted operating income) in Q2-2014.

Here is what the company has to say about its HBO segment results:

Revenues grew 10 per cent (US$ 118 million) to US$ 1.3 billion, reflecting increases of 10 per cent (US$ 106 million) in subscription revenues and 7 per cent (US$ 10 million) in content revenues. The increase in subscription revenues resulted from higher domestic rates and subscribers as well as the consolidation of HBO Asia and HBO South Asia (collectively, HBO Asi”). The growth in content revenues was primarily due to increased home video revenues.

Adjusted Operating Income decreased 4 per cent (US$ 17 million) to US$ 380 million, as higher revenues were more than offset by increased expenses due to higher programming and distribution costs as well as increased restructuring and severance costs. Programming costs grew 16 per cent due to increased expenses for original and acquired programming as well as the consolidation of HBO Asia. Distribution costs increased primarily due to higher participation expenses. The current year quarter included US$ 48 million of restructuring and severance costs compared to US$ 24 million in the prior year quarter. Excluding the restructuring and severance charges, Adjusted Operating Income would have been US$ 428 million.

Operating Income declined 24 per cent (US$ 122 million) to US$ 380 million. The prior year quarter included a US$ 105 million gain related to Home Box Office’s acquisition of its former partner’s interests in HBO Asia in September 2013.

Warner Bros (WB)

WB reported 3 per cent growth in revenue in Q3-2014 to from US$ 2775 million (44.4 per cent of TIO) from US$ 2694 million (44.6 per cent of TIO) in Q3-2014, but was 3.3 per cent lower than the US$ 2870 million (42.3 per cent of TIO) in Q2-2014.

WB’s adjusted operating income at US$ 241 million (24.3 per cent of total adjusted operating income) was 20.2 per cent lower than the US$ 302 million (19 per cent of total adjusted operating income) in Q3-2014, but 2.1 per cent higher than the US$ 236 million (14.6 per cent of total adjusted operating income) in Q2-2014.

Here is what the company has to say about its WB segment results:

Revenues increased 3 per cent (US$ 81 million) to US$ 2.8 billion, mainly due to growth in subscription video-on-demand revenues for television product, higher licensing of theatrical product, growth in television production, including from the acquisition of Eyeworks Group’s operations outside the U.S., and revenues from a patent license and settlement agreement. These increases were partly offset by softer performance of current year quarter theatrical releases compared to the prior year’s slate, which included Pacific Rim, The Conjuring and We’re the Millers, and lower domestic off-network television license fees.

Adjusted Operating Income decreased 20 per cent (US$ 61 million) to US$ 241 million, as higher revenues were more than offset by increased restructuring and severance costs, higher film costs for television product and a value added tax accrual. The current year quarter included US$ 45 million of restructuring and severance costs compared to US$ 2 million in the prior year quarter. Excluding the restructuring and severance charges, Adjusted Operating Income would have been US$ 286 million.

Operating Income declined 23 per cent (US$ 70 million) to US$ 237 million.

Through 2 November, Annabelle grossed over US$ 230 million at the worldwide box office. Season-to-date, Gotham ranked as broadcast’s #2 new drama series among adults18-49. The premiere of The Flash had a total of 6.8 million total viewers in final live +7 ratings, making it The CW network’s most-watched telecast ever.

Related Topics:Annabelle Disney Gotham HBO Jeff Bewkes NBA Time Warner Turner Warner Bros.WB

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Brands

Page Industries posts steady Q3 growth, declares Rs 125 interim dividend

Published

1 week ago

February 5, 2026

indiantelevision.com Team

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.

Brands

Hitachi Energy plugs into profit as revenues surge in Q3 FY26

Published

1 week ago

February 5, 2026

indiantelevision.com Team

MUMBAI: Power flows may ebb and surge, but Hitachi Energy India Limited clearly had the current on its side in the December quarter. The energy and power technology major reported a sharp jump in profitability for Q3 FY26, riding strong revenue growth and improved operating margins, even as fresh order inflows moderated from last year’s highs.

For the quarter ended December 31, 2025, Hitachi Energy India posted revenue from operations of Rs 2,168 crore, up 29.6 percent year on year from Rs 1,672 crore in Q3 FY25 and 13.2 percent sequentially from Rs 1,915 crore in Q2 FY26. Including other income, total income for the quarter stood at Rs 2,168 crore, reflecting sustained execution momentum across projects and services.

Profitability surged far faster than topline growth. Profit before tax, before exceptional items, more than doubled to Rs 402 crore, compared with Rs 184 crore a year earlier. After accounting for an exceptional charge of Rs 54 crore linked to the impact of new labour codes, profit before tax came in at Rs 348 crore, still up nearly 89 percent year on year. Net profit for the quarter rose 90.3 percent to Rs 261 crore, compared with Rs 137 crore in the same period last year, even as it remained largely flat sequentially.

Margins told an equally strong story. PBT margin expanded to 16.0 percent in Q3 FY26 from 11.0 percent a year earlier, while profit after tax margin improved to 12.1 percent from 8.2 percent. Operating EBITDA jumped 100.4 percent year on year to Rs 338 crore, with margins expanding to 15.6 percent, signalling tighter cost control and operating leverage.

On a nine-month basis, revenue for the period ended December 31, 2025 rose to Rs 5,604 crore, up from Rs 4,520 crore in the corresponding period last year. Profit before tax for the nine months surged to Rs 878 crore, more than three times the Rs 270 crore reported a year earlier, while net profit climbed to Rs 657 crore, compared with Rs 200 crore in the previous period.

The only soft patch came on the order book. New orders in Q3 FY26 stood at Rs 2,478 crore, sharply lower than Rs 11,594 crore in Q3 FY25, when the company had benefited from a large one-off order win. Excluding that outsized contract, management noted that orders actually grew 73.7 percent year on year, underlining steady underlying demand. Sequentially, orders rose 11.7 percent from Rs 2,217 crore in Q2 FY26. For the nine months, total orders edged up to Rs 16,034 crore, broadly in line with Rs 15,983 crore a year earlier.

With revenues accelerating, margins widening and execution staying on track, Hitachi Energy India’s Q3 numbers suggest that while headline order comparisons may flicker, the business is firmly switched on when it comes to profits.

Brands

Tata Motors posts Q3 loss as JLR cyber incident hits results

Published

1 week ago

February 5, 2026

indiantelevision.com Team

MUMBAI: Tata Motors Passenger Vehicles Limited (TMPVL) had a quarter of two very different moods. Back home, the showrooms were busy, the order books thick, and the festive glow lingered. Overseas, however, a cyber incident at Jaguar Land Rover pulled the plug on profits and dragged the group into the red.

For the third quarter of FY2026, Tata Motors posted a consolidated net loss of Rs 3,483 crore. A year ago, it had reported a profit of Rs 5,485 crore. Revenue also slipped sharply, down 25.8 per cent year on year to Rs 70,108 crore. Earnings before interest and tax fell into negative territory, with margins dropping to minus 4.7 per cent.

Strip away exceptional items and the picture still looked bruised. Profit before tax stood at a loss of Rs 3,136 crore, while earnings per share from continuing operations came in at minus Rs 9.47.

For the nine months to December, the company reported a net loss of Rs 7,255 crore from continuing operations, with revenue down 14 per cent year on year to Rs 2.3 lakh crore. Free cash flow for the quarter was also negative at Rs 17,900 crore.

Most of the damage came from Jaguar Land Rover. The luxury carmaker saw revenue plunge 39.4 per cent year on year to £4.5 billion. Ebit margins slid to minus 6.8 per cent, and profit before tax before exceptional items stood at a loss of £310 million.

The reasons were a perfect storm: a cyber incident that disrupted production, the wind-down of legacy Jaguar models, a weakening China market, and tariff pressures in the United States. The result was a free cash outflow of £1.5 billion for the quarter and net debt rising to £3.3 billion.

Still, the company has held on to its guidance, expecting Ebit margins of 0 to 2 per cent for the full year.

Back home, the domestic passenger vehicle business offered a more cheerful read. Revenue rose 24 per cent year on year to Rs 15,317 crore. Profit before tax before exceptional items stood at Rs 302 crore, while market share climbed to 13.8 per cent, securing the number two spot.

The company’s electric vehicle play also stayed strong, with a commanding 43.6 per cent share of the EV market and cumulative sales crossing the 2.5 lakh mark. The domestic unit ended the quarter with a net cash position of Rs 5,100 crore.

It was also a record quarter on the ground. Tata clocked its highest-ever quarterly wholesales at 171,000 units, up 22 per cent year on year, while retail sales crossed the 200,000 mark for the first time. The Nexon led the charge as the country’s best-selling model for the quarter, supported by the Punch and the newly introduced Sierra.
The quarter carried Rs 1,597 crore worth of exceptional losses. These included Rs 800 crore tied to the JLR cyber incident, Rs 400 crore linked to the new labour code, and another Rs 400 crore in stamp duty charges.

Yet on the restructuring front, the company booked a windfall. The demerger of the commercial vehicles business delivered an exceptional gain of Rs 82,616 crore. That helped push the nine-month net profit, including these gains, to Rs 76,767 crore.

Chief financial officer Dhiman Gupta called the quarter “challenging as anticipated” due to the cyber incident at JLR, while highlighting the domestic business’ revenue growth and margin improvement quarter on quarter. He added that performance is expected to improve significantly in the fourth quarter as JLR recovers.

JLR chief executive PB Balaji said production returned to normal by mid-November after the shutdown triggered by the cyber incident, and the company is now focused on rebuilding momentum.

Meanwhile, TMPVL managing director and CEO Shailesh Chandra pointed to record wholesales and strong festive demand as key drivers of the domestic business.

As of December 31, 2025, the group’s net debt stood at Rs 39,400 crore, with a debt-equity ratio of 0.61 times. Net worth was reported at Rs 1.07 lakh crore.

In short, Tata’s quarter read like a tale of two garages: one humming with orders and electric optimism, the other grappling with a digital breakdown. If the cyber clouds lift and the domestic engine keeps firing, the next quarter could look far less bumpy.