Mumbai: Entertainment Network (India), India’s leading private FM radio operator, popularly known as Radio Mirchi, on Monday reported a net profit growth of 42% for the second quarter ended September 30, 2014. Profit after tax (PAT) during the quarter stood at Rs 23.3 crore compared to Rs 16.4 crore in Q2FY14. Revenues for Q2FY15 stood at Rs 104.4 crore, compared to Rs 86.5 crore in Q2FY14, up 20.6% over the previous year.
The company’s earnings before interest, tax, depreciation and amortization (ebitda) stood at Rs 31.7 crore, up 25.3%. The company’s ebitda margin improved from 29.2% in Q2FY14 to 30.3% during the quarter under review.
Prashant Panday, MD & CEO, ENIL, said, “The radio sector has again turned out an impressive performance, not surprising considering that it accounts for more than 30% of media consumption time, but gets only 5-6% of advertising revenues.
We believe radio will continue to grow faster than other media in the future as well. We are excited that PM himself believes so strongly in radio, and hopes the ministry of I&B under Arun Jaitley will quickly complete auctions process commenced by Prakash Javadekar. We remain buoyant about radio’s prospects in the years to come.” added Panday
