MUMBAI: Entertainment Network (India) Ltd, better known by its brand Radio Mirchi, has reported revenues of Rs 502 million for the quarter ended 30 June 2009 as compared to Rs 572 million in corresponding period of last fiscal year,down by 12.2 per cent.

The company's earnings before interest, tax, depreciation andamortization (EBITDA) stood at Rs 92.5 million. The Company's EBITDA margin improved from 18.2 per cent in Q1 FY09 to 18.4 per cent during the current quarter. The reported EBITDA also includes a one time cash flow neutral charge of Rs 13.6 million, says a release.

Loss after tax stood at Rs 14.5 million.

Says Radio Mirchi CEO Prashant Panday, In very trying times, I am happy to state that we have managed to stem any further de-growth on a sequential basis overQ4 of last year. Our market share has also climbed up to 42 per cent now. The brand is performing very well in terms of listenership. First, it was IRS that showed ourlistenership to be double than our nearest private FM competitor. Now even RAM has shown us to be the #1 brand in ALL the four metro markets for the last seven weeks in a row. I believe the advertising industry will start to grow again from Q3 and Mirchi is well poised to take advantage of that....