Radio Mirchi Q2 turnover rises 49%, net up 16%
Entertainment Network India (ENIL), India’s largest private FM Radio operator popularly known as Radio Mirchi, a sister organisation of this newspaper, has reported 16% increase in net profit for the quarter ended September 30, ’06.
By TNN |
NEW DELHI: Entertainment Network India (ENIL), India’s largest private FM Radio operator popularly known as Radio Mirchi, a sister organisation of this newspaper, has reported 16% increase in net profit for the quarter ended September 30, ’06.
Net profit rose to Rs 4.9 crore compared to Rs 4.3 crore in the corresponding period last year. Total income grew by 48.8% to touch Rs 42.4 crore during the second quarter compared to Rs 28.5 crore for Q2 of FY06.
The company’s earnings before interest, depreciation, tax and amortisation (EBITDA) grew 17.6% to Rs 9.9 crore from Rs 8.4 crore in the same quarter last year. On a like basis (comparing 7 old stations only), EBITDA for the quarter stood at Rs 10.3 crore, up 22.4% year on year.
Total income for the half year grew 57.5% to Rs 77.9 crore while EBITDA increased by 9.9% to Rs 15.9 crore. On a like basis, EBITDA for H1FY07 stood at Rs 19.6 crore, up 35.9% year on year. During the quarter, the company made significant inroads into the four FM stations which were launched in April ’06 — Bangalore, Hyderabad and Jaipur, raking up listenership and achieving market leadership in revenues with client support on the back of innovative programming and marketing.
According to data based on Indian Listenership Track (ILT - Wave 9), an independent research conducted by MRUC, for the period July- September 9, ’06, Radio Mirchi enjoyed the highest listenership of 44.6 lakh in Delhi out of a total listenership of 60.2 lakh listeners, comfortably ahead of the competition.
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In Mumbai too, Radio Mirchi dominated listenership with 22.1 lakh out of a total of 49.8 lakh listeners. It increased its lead over #2 player in Mumbai from 10% to 30%. Commenting on the performance of the company, AP Parigi, CEO & managing director, ENIL said, “We continue to focus on building listenership through sustained innovations in marketing and programming as the latest listenership numbers in Delhi and Mumbai indicate. We are confident of magnetising this and maintaining our growth trajectory.”The company launched Visual Radio in Mumbai in September ’06 after a successful launch in New Delhi in July ’06. During the quarter, Radio Mirchi broke music of blockbusters like Kabhi Alvida Na Kehna, Lage Raho Munnabhai and Don on its radio stations.
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