| 30 May 2023
Radio City reports improved numbers for third quarter

BENGALURU: Music Broadcast  Limited (MBL, Radio City) reported increase in revenue and profit after tax (PAT) for the quarter ended 31 December 2017 (Q3 2018, quarter under review) as compared to the corresponding year ago quarter (y-o-y). EBIDTA and EBIDTA margin for Q3 2018 were however lower y-o-y.

MBL’s revenue from operations increased 4.7 percent y-o-y to Rs 76.18 crore from Rs 72.79 crore. PAT increased 16.4 percent y-o-y to Rs 11.88 crore (15.6 percent margin) from Rs 10.21 crore (14 percent margin). Total Income for the quarter under review increased 9.3 percent y-o-y to Rs 80.51 crore from Rs 73.65 crore. EBIDTA declined 12.4 percent y-o-y to Rs 23.32 crore (30.6 percent margin) from Rs 26.62 crore (36.6 percent margin). Total comprehensive income for Q3 2018 increased 13.8 percent y-o-y to Rs 11.62 crore from Rs 10.21 crore.

Company Speak

MBL director Apurva Purohit said, “We have delivered a strong topline growth of 9 percent against mixed trends of the market. The growth is achieved mainly on the back of rapidly growing new markets along with an uptick in volumes. Despite a nonconductive environment, we have grown at 5 percent in volume terms in comparison to the industry growth rate of 2 percent. There has been a 20 percent revenue growth in both November and December, we believe that the impact of demonetization and GST has reduced to a great extent and business will only continue to grow from here. There are signs of an economic revival which will further bolster our growth prospects.”

Let us look at the other numbers reported by MBL

MBIL’s total expenditure for the current quarter increased 8.5 percent y-o-y to Rs 5.38 crore from Rs 4.96 crore. License fee increased 13.9 percent y-o-y in Q3 2018 to Rs 54 crore from Rs 47.4 crore. Employee cost in the quarter under review increased 4.6 percent y-o-y to Rs 17.59 crore from Rs 16.82 crore.

Finance Costs in Q3 2018 declined 21 percent y-o-y to Rs 3.92 crore from Rs 4.96 crore. Other expenses in the quarter under review increased 22.6 percent y-o-y to Rs 29.89 crore from Rs 24.39 crore.