MUMBAI: Radio Mirchi posted revenues of Rs 612 million for the fourth quarter of 2009-2010, compared to Rs 503 mn in the corresponding period last year.
Entertainment Network (India), popularly known as Radio Mirchi, reported a net profit of Rs 48 mn for the quarter ended March 31, 2010, against a profit of Rs13mn reported in Q4 FY09. Revenues for Q4 FY10 stood at Rs612mn, compared to Rs503mn in the corresponding period last year. The company's earnings before interest, tax, depreciation and amortization (EBITDA) stood at Rs148mn, up 10 per cent. The Company's EBITDA margin stood at 24.2 per cent.
Net Profit for the fiscal year ended March 31, 2010, grew by 513 per cent to Rs 179 mn as compared to Rs 29 mn in the previous fiscal year. EBITDA for the year was Rs596mn, up 17.6 per cent.
On a consolidated basis, ENIL reported revenues of Rs1.2bn during Q4 FY10, up 20.6% YoY. The EBITDA for the quarter stood at Rs342mn compared to a EBITDA loss of Rs 234 mn in the corresponding period of previous year. PAT stood at Rs 154 mn.
For the fiscal year ended March 31, 2010, consolidated revenues were Rs 4.22 bn.
As per the recently published Indian Readership Survey (IRS) 2010 Q1, Radio Mirchi has emerged as a clear leader with over 41.2mn listeners across the country. Radio Mirchi tops the charts with the largest cumulative listenership of 15.1mn in the eight key cities of Mumbai, Delhi, Kolkata, Hyderabad, Bangalore, Pune and Ahmedabad, says an official release.
Commenting on the results, Prashant Panday, CEO, ENIL, said There is clearly a recovery in the media markets, but I would wait for another 2 quarters before saying it with certainty. The media industry needs to focus on increasing yields, even while we add value to our advertisers. Our cost focus has helped in improving the margins. We plan to continue that focus in the coming year. We are particularly excited about the strength of the Mirchi brand as reflected in repeated listenership studies. The brand has also won several accolades during the year...
On the Out-of-Home media front, the Company has implemented many cost management initiatives. Adding on, Times OOH managing director Sunder Hemrajani said, The revival of the OOH industry continued into Q4 FY10. The Company recorded a revenue growth of 51.4 per cent during the quarter and 5.2 per cent in the financial year under review. There was significant improvement in the profitability of the business due to aggressive customer acquisition and the positive impact of the cost and productivity initiatives undertaken during the year....