BENGALURU: Next Mediaworks Limited and BBC worldwide joint venture Radio One (Radio One) reported a growth in revenue of 19 per cent for HY1-2014 to Rs.28.07 crores as compared to the Rs.23.57 crores for the corresponding period of last year. The company was previously known as Mid-Day Multimedia limited.
The company reported a 340 per cent jump in PBIT for H1-2014 to Rs.3.17 crores from Rs.0.72 crores during the corresponding period last year.
Overall, the company reported about one third (33.8 per cent) loss of Rs.(-1.22) crores for H1-2014 as compared to the Rs.(-3.61) crores for H1-2013.
Let us look at the figures reported for Q2-2014 by Radio One
Radio One reported revenue of Rs.14.14 crores for Q2-2014 which was about 1.5 per cent higher than the Rs.13.93 crores for Q2-2013 and about 12.6 per cent more than the Rs.12.56 crores for Q1-2014.
Expenditure at Rs.12.83 crores for Q2-2014 was about 4.1 per cent lower than the Rs.13.38 crores y-o-y and about 1 per cent higher than the Rs.12.71 crores q-o-q.
The company paid 1.43 per cent lower license and royalty fees for Q2-2014 at Rs.1.38 crores as compared to the Rs.1.4 crores for Q2-2013 and about 0.7 per cent higher than the Rs.1.37 crores for Q1-2014.
Radio One paid finance cost of Rs.1.25 crores which was 3.8 per cent lower than the Rs.1.30 crores for Q2-2013, but 15.7 per cent more than the Rs.1.08 crores for the immediate trailing quarter.
It spent 28 per cent less towards advertising and marketing costs for Q2-2014 at Rs.0.34 crores as compared to the Rs.0.5 crores for Q2-2013 and less than half (42 per cent) of the Rs.0.81 crores for Q1-2014.
Deferred tax for the current period (Q2-2014) of Rs.(-0.63) crores resulted in a loss ofRs.(-0.57) crores from ordinary activities and minority interest added another Rs.(-0.11) crores to bring the net loss for the period to Rs.0.68 crores.
Q2-2014 loss at Rs.(-0.68) crores was 13.6 times the Rs.(-0.05) loss for Q2-2013 and 28.3 per cent higher than the Rs.0.53 crores for Q1-2014.