Entertainment Network which operates Radio Mirchi reports 23% higher revenue in Q3

NEW DELHI: Entertainment Network (India) Ltd, which operates the popular FM radio channel Radio Mirchi, reported 22.9% higher revenues for the quarter ended December 31, 2015 at Rs 143.6 crore. The company’s EBITDA for the quarter grew by 11.6% to Rs 49.7 crore, though the underlying EBITDA growth was 17.4%. The net profit of the company for the quarter stood at Rs 27 crore Revenues for the nine months ended December 31, 2015 grew by 15.1% to Rs 361.4 crore while EBITDA stood at Rs 120.8 crore, up 9.1%.

During the quarter, Radio Mirchi launched the Mirchi T3 radio at Terminal 3 of the Delhi Airport with Delhi International Airport (P) Limited (DIAL). With Mirchi T3, Radio Mirchi looks to cater to a niche group of premium listeners who frequent the Delhi airport. Prashant Panday, managing director and chief executive officer of ENIL said: “The festive quarter has been a terrific one for us! We have grown by 23% in Q3 this year after having grown at 19% in the same quarter last year. With the roll-outs of Phase-3 stations well underway, we hope to see rapid growth in the years to come. The next five years belong to radio!”