Radio Mirchi December quarter PAT at Rs 25 cr
Radio Mirchi, India's leading private FM radio channel run by Entertainment Network India Limited, recorded a profit after tax of 24.9 crore in the quarter ended December 31, 2010.
Compared to the same quarter last year, the company's revenues rose to 77.5 crore this quarter, up 22% while earnings before interest, taxes, depreciation and amortization, or EBIDTA, rose to 28.2 crore, up 33%.
Radio Mirchi's EBITDA margin also improved to 36.4%, up by more than 3% compared to the same quarter last fiscal. Company's executive director and chief executive officer Prashant Panday said "It has been a good quarter for most media companies. ENIL's results reflect the strength of Radio Mirchi as a brand. Its high listenership numbers give its clients the extra punch which makes them put more money on the brand. The results of the quarter are a tribute to the entire team at Mirchi."
Net profit for nine months ended December 31, 2010, grew more than 1.6 times to 34.2 crore since the company sold a subsidiary, Times Innovative Media Limited, for 12.03 crore. EBITDA for the period was 58.4 crore, up 30.2%. Radio Mirchi leads in the number of listeners with over 42.2 million, nearly double of the next radio brand. Delhi is the biggest market for the radio channel with over 1 crore listeners, company executives said.