Entertainment Network (India) Ltd — Earnings Release 2022

Oct 26, 2021

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Press Release

Mirchi reports 46% revenue growth, achieves EBITDA profit

Mumbai, Oct 26, 2021: Entertainment Network (India) Ltd, the operator of India’s #1 FM radio channel Radio Mirchi , today announced results for the quarter ended Sep 30, 2021.

Overall revenue grew 46.3% on the back of a strong 50% growth in radio and 51% in Solutions; Third party sales and other operating income grew at a slower pace. As revenues grew, and the cost control initiatives of the past continued, EBITDA turned profitable during the quarter at Rs.8.9 crores.

As the impact of the 2[nd] covid wave waned, the company reported a net loss of just Rs.7.9 crores, compared to Rs 27.7 crores in the 1[st] quarter. The company’s balance sheet remains strong with Cash reserves of Rs.205.7 crores as on Sep 30, 2021.

Commenting on the results, Mr. Prashant Panday, MD & CEO, ENIL, said: “Thanks to more pragmatic lockdowns during the 2[nd] covid wave and rapid vaccination across the country, the economic recovery has been faster this time. This has shown up in the strong results of the company. We expect results to remain strong in the 2[nd] half of the year as well. Our Solutions and digital products are providing us with strong competitive advantage. We see ourselves morphing from Radio Mirchi to Mirchi Platforms rapidly!”.

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 in 63 Indian cities and is headquartered in Mumbai. Promoter of ENIL, Bennett, Coleman & Co. Limited (BCCL), is the flagship company of The Times of India Group, which has a heritage of 175 years and is one of India’s leading media groups.

For More Information Please Contact:

Sanjay Ballabh sanjay.ballabh@timesgroup.com Entertainment Network (India) Ltd.

Kailash Yevale +91 9768580748 kailash.yevale@adfactorspr.com Adfactors PR Pvt. Ltd.