Entertainment Network India : Radio Mirchi reports strong results; PAT grows 42%
November 10, 2014 at 09:54 am
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Radio Mirchi reports strong results; PAT grows 42%
Mumbai, November 10, 2014:
Entertainment Network (India) Ltd., India's leading Private FM Radio operator, popularly known as Radio Mirchi, today reported a net profit growth of 41.9%. Profit after tax (PAT) of the Company for the quarter ended September 30, 2014 stood at Rs. 23.3 crores compared to Rs. 16.4 crores in Q2FY14. Revenues for Q2FY15 stood at Rs. 104.4 crores, compared to Rs. 86.5 crores in Q2FY14, up 20.6% over the previous year. The Company's Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) stood at Rs. 31.7 crores, up 25.3%. The Company's EBITDA margin improved from 29.2% in Q2FY14 to 30.3% during the current quarter.
Commenting on the results, Mr. Prashant Panday, MD & CEO, ENIL, said
"The radio sector has again turned out an impressive performance, not surprising considering that it accounts for more than 30% of media consumption time, but gets only 5-6% of advertising revenues. We believe radio will continue to grow faster than other media in the future as well. We are excited that the PM himself believes so strongly in radio, and hope that the Ministry of I&B under Mr. Arun Jaitley will quickly complete the auctions process commenced by Mr. Prakash Javadekar. Overall, we remain buoyant about radio's prospects in the years to come"
About ENIL: (BSE Code: 532700) (NSE Code: ENIL)
Entertainment Network (India) Limited (ENIL) is a leading city-centric media company and is listed on the BSE and NSE. Incorporated in June 1999, ENIL operates FM radio broadcasting stations through the brand Radio Mirchi in 32 Indian cities and is headquartered in Mumbai. The promoter of ENIL, Bennett, Coleman & Co. Limited, is the flagship company of The Times Group, which has a heritage of 175 years and is one of India's leading media groups.
Entertainment Network (India) Limited is an India-based advertising company. The Company generates its advertising revenues by the sales of airtime in the Companyâs frequency modulation (FM) radio broadcasting stations, activations, concerts and monetization of Companyâs digital and other media properties. The Company operates FM radio broadcasting stations in 63 Indian cities. The Companyâs subsidiaries include Alternate Brand Solutions (India) Limited, Entertainment Network, Inc., Entertainment Network, LLC, Global Entertainment Network Limited W.L.L., and Mirchi Bahrain W.L.L. Its brands include Radio Mirchi, Mirchi Plus, Mirchi 95, Mirchi Love and Kool FM. The Company operates in Ahmedabad, Akola, Amravati, Amritsar, Asansol, Aurangabad, Bengaluru, Bharuch, Bhavnagar, Bhopal, Chandigarh, Chennai, Coimbatore, Delhi, Nagpur, Pune, Guwahati, Hubli Dharward, Hyderabad, Indore, Jabalpur, Jaipur, Jalandhar, Jammu, Jamnagar, Jhansi, Jodhpur, Kolkata, and other.