Radio Mirchi Reports Strong Results; Revenues Grow by 19%; PAT Grows 27%

Entertainment Network (India) Ltd., India’s leading Private FM Radio operator, popularly known as Radio Mirchi, today reported a net profit growth of 27%. Profit after tax (PAT) of the Company for the quarter ended December 31, 2014 stood at Rs. 32.9 crores compared to Rs. 25.9 crores in Q3FY14. Revenues for Q3FY15 stood at Rs. 117 crores compared to Rs. 98.5 crores in Q3FY14, up 18.7% over the previous year. The Company’s Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) stood at Rs. 44.8 crores, up 17.2%. EBITDA margin for the current quarter stood at 38.3%.

Revenues for the nine months ended December 31, 2014, grew by 16.4% to Rs. 314.6 crores while PAT grew by 29.3% to Rs. 80.5 crores.

The Board of Directors of ENIL at its meeting held earlier today approved the constitution of a Committee of Directors to explore, negotiate and conclude M & A opportunities in the FM broadcasting space.

Commenting on the results, Mr. Prashant Panday, MD & CEO, ENIL, said “The bull run in the radio business continues! A near 19% revenue growth, matched by equally strong growth in EBITDA and PAT, is reflective of this. With Phase-3 auctions finally about to kick-off, the bull run is expected to continue for the next 3-5 years. Our game plan for Phase-3 is aggressive, yet we are ever mindful of our profitability objectives.”

About ENIL: (BSE Code: 532700) (NSE Code: ENIL)

Entertainment Network (India) Limited (ENIL) is a leading city-centric media company and is listed on the BSE and NSE. Incorporated in June 1999, ENIL operates FM radio broadcasting stations through the brand Radio Mirchi in 32 Indian cities and is headquartered in Mumbai. ENIL has one subsidiary namely, Alternate Brand Solutions Limited (ABSIL), through which it operated its experiential marketing brand 360⁰Experience in the past. All the Intellectual Property Rights business of ABSIL has been acquired by ENIL through a Business Transfer Agreement (BTA) with effect from July 1, 2012. The promoter of ENIL, Bennett, Coleman & Co. Limited, is the flagship company of The Times Group, which has a heritage of 175 years and is one of India’s leading media groups.

For ENIL Financial Results, click here