Radio Mirchi reports impressive 108% Q3 profit surge to ₹21.6 Cr
SUBSCRIBE
JOBS
Custom Image
Go Back
4 months ago 02:00:36pm Television

Radio Mirchi reports impressive 108% Q3 profit surge to ₹21.6 Cr

New Delhi, 14-February-2024, By IBW Team

Radio Mirchi reports impressive 108% Q3 profit surge to ₹21.6 Cr

Entertainment Network India Limited (ENIL), the operator of India’s top FM radio channel Radio Mirchi, has recorded a net profit of ₹21.6 crore for the quarter ending December 31, 2023, marking an impressive 108 percent year-over-year (YoY) growth.

EBITDA stood at ₹44.3 crore, boasting a 33 percent margin and demonstrating a substantial 36.4 percent YoY improvement, primarily driven by robust top-line growth.

Revenue grew 21 percent YoY to ₹140 crore, led by robust demand in free commercial time (FCT), which was driven by high retail activity during the quarter. Non-FCT revenues also experienced a notable surge, reporting strong revenue growth of 45 percent YoY, The Economic Times reported.

It added that the digital segment contributed ₹11.4 crore to the revenue, making up 13 percent of the total radio revenues. Additionally, ENIL invested ₹6.2 crore in digital to further fortify its presence in the segment.

ENIL said the deal to acquire Gaana has been completed, and the company is actively engaged in revitalizing the brand and the product to enhance Mirchi’s digital offerings to its audience. This acquisition is an important step towards turning around ENIL’s digital story.

The international business continues to remain stable and profitable, reporting an EBITDA of over ₹2.3 crore during the quarter.

ENIL CEO Yatish Mehrishi said: “I am thrilled to report a strong quarter with increased activity in radio and a fantastic festive season. Our revenue growth has outpaced the industry, demonstrating our leadership. Over the past two years, we’ve seen consistent revenue growth, doubling the industry average, and significantly improving profitability.

“As our current businesses gain momentum, we’re dedicated to future investments. The addition of Gaana is a crucial step in our digital journey, aiming to offer high-quality audio content on a unified platform. Looking ahead, the synergy between our brands, Mirchi and Gaana, along with our industry experience, positions ENIL as a key player in India’s audio entertainment space.”

As of December 31, 2023, the company has cash and cash equivalents totaling ₹262 crore.


Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts

Our Events

  • img
    SatCab Symposium

    SatCab symposium organized by Aavishkar Media Group is an annual event. It's a well-informed event where we have a panel discussion on the current affairs and future forecasting on our industry.

  • img
    BCS
    Ratna Awards

    BCS Ratna Award organized by Aavishkar Media Group is an annual event. In this award function, a community of our industry is honored by receiving the award for the contribution of their work.

  • img
    Chetna Yatra

    Chetna Yatra organized by Aavishkar Media Group is an annual event. Held by Dr. AK Rastogi, Chairman of Aavishkar Media Group. Pilgrimage India in his car for connecting the people of our industry.

  • img
    Imaan India Sammaan

    Imaan India Samman is an event mobilized by Aavishkar Media Group, which was launched in 2012. Giving the award to the NGOs for giving their contribution to society.

Youtube Videos