Radio City Maintains Leadership Position with a Strong Profit Growth
Mumbai, Maharashtra, India: Music Broadcast Limited (MBL), India’s 1st Private FM Radio Broadcaster, has reported its Financial Results for the Quarter ended December 31st, 2021.
Key Highlights - Q3 FY22:
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Maintained Leadership Position with 22% Volume Market Share
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Q3 FY22 Top line of Rs 60.0 Crores; 47% Growth YoY
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EBITDA* at Rs. 21.6 Crores; EBIDTA Margin at 36.1%
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PAT at Rs. 9.0 Crores
*Includes other income
Key Highlights - 9M FY22:
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Maintained Leadership Position with 21% Volume Market Share
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9M FY22 Top line of Rs 122.4 Crores; 44% Growth YoY
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Positive EBIDTA* at Rs. 21.7 Crores; EBIDTA Margin at 17.7%
*Includes other income
Commenting on the results Mr. Shailesh Gupta, Director, said, “The festive season brings with it cheer and positivity and that is exactly what was observed in the company’s performance, with the revenue growing 47% YoY and 42% QoQ, while maintaining a lion’s share of the volume and extending the lead in market share. The groundwork laid over the past few quarters and return of ad spends led to a significant rise in profitability, with EBIDTA margins standing at 36.1% and PAT margins at 15.0% for the quarter.
Ad spends across most sectors saw a bounce back, amidst the opening up of malls, multiple international sporting events, product launches, and resumption of movie screenings, which provided the much-needed boost for the sector. While the traditional lines of business held strongly and recovered lost ground, multiple digital initiatives, complemented the same and witnessed a sharp growth of 219% YoY and 43% QoQ, which is in line with the multi-channel approach the company has embarked upon.
New revenue opportunities have contributed substantially to our overall performance, accounting for 38% of the revenue this quarter, and are expected to drive steady growth going forward as well leveraging the talent pool and infrastructure in the organization. The company has further cemented its strong liquidity position by increasing its cash reserves, which now stand at Rs. 248 crores, as on 31st December 2021.
Regarding the bonus issue of the non-convertible non-cumulative preference shares, SEBI has accorded its approval and we have filed the scheme with NCLT in February 2021 and are awaiting approval from them.”
