MUMBAI: Radio Mirchi has reported a net profit of Rs 107 million for the quarter ending 31 December 2009, against a profit of Rs 49 million reported in Q3 FY 09.

Mirchi's revenues for Q3 FY '10 stood at Rs 635 million, compared to Rs 600 million in the corresponding period last year. The company's earnings before interest, tax, depreciation and amortization (EBITDA) stood at Rs 211 million, up 15 per cent. The Company's EBITDA margin improved from 30.6 per cent in Q3 FY 09 to 33.2 per cent during the current quarter.

Net profit for the nine months ended 31 December 2009, grew by 692 per cent to Rs 131 million as compared to Rs 17 million in the corresponding period of last fiscal year. EBITDA for the period was Rs 448 million, up 20.3 per cent.

On a consolidated basis, ENIL reported revenues of Rs 1168 million during Q3 FY 10, up 5.8 per cent year on year. The EBITDA for the quarter stood at Rs 176 million, compared to Rs 59 million in the corresponding period of previous year. PAT stood at Rs 25 million.

For the nine months ended December 31, 2009, revenues were Rs 3.02 billion.

Commenting on the results, ENIL CEO Prashant Panday said, We can now safely say that the worst is behind us! With revenues turning positive, and with costs tightly under control, we expect the turnaround to gain strength. The IRS results of R2, 2009 are a big boost as it shows clearly that listenership shares of Mirchi are now stable and strong. Our revenue market shares also remain strong at above 40 per cent. We look forward to the Phase III policy announcements from the Ministry of I&B and resolution of the long pending music royalty issues....