MUMBAI: HT Media's FM radio venture netted revenues of Rs 88.3 million in the quarter ended 30 June 2009, and the company expects to get into the black by next quarter.

"The last quarter has been good," affirms Fever national marketing head Neeraj Chaturvedi. The station, that staked its claim to the number one slot (according to RAM figures) in some metros in May this year, has been holding its own within the top few players since, although the top slot has eluded it for some weeks.

In Delhi, however, it claims to have achieved the number one status among audiences 18 to 34, sec A and B, for two shows – Morning Drive and Evening Drive.   The morning show Balle Balle Dilli hosted by DJ Lokesh secured a share of 24.6 per cent in week 28, claims the station. The evening drive show hosted by DJ Tuhin also leads the slot among rivals with a share of 22 per cent, it says.

Chaturvedi is gung ho about the Delhi station, which he says has been in the black for the last eight to nine months, and says as a company, the radio venture is poised to reap the dividends of the efforts put in over the last six months by the next quarter.

"We have been innovative in our programming and marketing and have taken calculated risks," he maintains, pointing to initiatives like the recently concluded Music Mahotsav. "At times, we even stay a step ahead of the listeners offering them differentiated content like the Morning Number 1 and the Khabardar show."

The company demerged its radio business from its subsidiary HT Music and Entertainment (HTME) and merged into itself earlier this year. Chaturvedi acknowledges that a lot of investment has gone into the venture in the last few months in terms of technology and talent induction, particularly in Mumbai and Bangalore.

So, although Fever FM still shows a loss of Rs 26.3 million in its books, the venture is optimistic of breaking even in the near future.