Music Broadcast Limited has reported financial results for the quarter and nine-months ended December 31st, 2022.
In 9M FY23, the company reported a top line of Rs 147.5 crores, representing a 20pc growth YoY. With 19pc market share, the company’s EBITDA was Rs. 32.2 crores and the EBITDA margin was 21.8pc.
In Q3FY23, MBL reported a 12pc growth in top line revenue at Rs 54.7 crores and maintained a 19pc volume market share while achieving EBITDA of Rs 14.5 crores and an EBITDA margin of 26.6pc.
Commenting on the results, Shailesh Gupta, Director, Radio city, said, “We registered a healthy growth in EBITDA QoQ, with margins improving to 26.6% in Q3 FY 2023 compared to 18.3% in Q2 FY 2023. In terms of market share, we stand at 19% as against 18% last quarter and having established a strong omni-channel presence we are in a good spot to leverage our deep networks and relationships and offer maximum value to our customers.
On the digital front, owing to our strong presence as well as reach across multiple platforms and by leveraging our incredible in-house talent to deliver high quality content and build greater engagement with our audiences, we have set the right foundations. This is in line with our ‘Radigitalization’ strategy i.e. focused on digital integrations with Radio at its core. Digital revenues accounted for 8% contribution to the topline and have a large headway for growth going forward.”
Gupta added, “With new revenue efforts making up 31% of revenue this quarter, they have started to account for a significant portion of our overall top line and show every sign of being sustainable going forward. As of December 31, 2022, the company has cash reserves totaling Rs. 288 crores, according to its fundamental philosophy of maintaining a strong liquidity position as a war chest to weather any storm and seize new opportunities.”
