Radio Mirchi net soars 59.4%, revenue up 12.3% in September quarter

NEW DELHI: Entertainment Network (India) Ltd, which operates popular FM radio channel Radio Mirchi, on Wednesday reported a 59.4% year-on-year jump in net profit at Rs 16.4 crore for the quarter to September. The company said revenues rose 12.3% to Rs 86.5 crore.

Earnings before interest, tax, depreciation and amortisation (EBITDA) were up 33.6% at Rs 25.3 crore. The company said EBITDA margin improved to 29.2% from 24.5% in the year-ago quarter.

“The media sector witnessed a consolidation of sorts in second quarter,” said Prashant Panday, executive director and chief executive at ENIL. “The bigger brands have done well, while the rest languished. FM radio has again done better than all traditional media, growing at between 10% and 12% over last year, so has Mirchi.”