Mumbai : Entertainment Network (India), the operator of leading Private FM radio channel Radio Mirchi, on Wednesday said its total income for the April-June quarter of fiscal 2016-17 was Rs 111 crore, up 9% from nearly Rs 102 crore a year earlier. Within this, in the core radio business, the bulk of the business saw 24% growth in revenues.
ENIL’s earnings before interest, tax, depreciation and amortization (EBITDA) stood at Rs 29.4 crore, down 16.8% over last year. The company reported a PAT of nearly Rs 17 crore for Q1FY17, down 42% over last year.
Commenting on the results, Prashant Panday, MD & CEO, ENIL, said, “Our highly profitable radio business reported a strong 24% growth this quarter, ahead of industry numbers. Our non-radio business suffered a temporary de-growth, but we expect a full recovery in Q2FY17. Our EBITDA and PAT numbers are as per plan, with heavy upfront expenses incurred in the new stations of Kochi, Guwahati and the second channels in Bengaluru and Hyderabad. We expect to launch three more stations in August, and 10 more by December this year. These are truly exciting times for us.”
Mumbai-headquartered ENIL is promoted by Bennett, Coleman & Co (BCCL), India’s leading media house. ENIL currently operates FM radio broadcasting stations through the brand Radio Mirchi in 38 cities in India.