Radio Mirchi PBT grows 13% in Q4

Mumbai: Entertainment Network (India), the operator of India’s No. 1 FM radio channel Radio Mirchi, on Wednesday said for the quarter ended March 2018 (Q4FY18) it had posted a total revenue of Rs 159.4 crore, compared to Rs 165.2 crore during the year-ago period.

It said its earnings before interest, tax, depreciation and amortisation (ebitda) and profit before tax (PBT) during the quarter was higher at Rs 35.4 crore and Rs 21.3 crore respectively. However, due to the one-off tax items, profit after tax (PAT) was lower at Rs 11.7 crore for the quarter ended March 31, 2018.

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Commenting on the results, ENIL MD & CEO Prashant Panday said, “FY18 was a year in which we undertook a bold decision to address the biggest listener feedback — to cut the number of ads we play. Our listeners rewarded us by giving us a huge lead in listenership.”

He added, “We also grew our pricing, improved margins of our non-radio businesses, achieved rapid growth in new-station revenues, turned new stations profitable and turned the company net debt-free. We made a small sacrifice in revenues, but as a result of this, we are now poised for strong growth in the years ahead.”