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Entertainment Network (India) Ltd — Earnings Release 2022
Feb 9, 2022
60835_rns_2022-02-09_dbbf08af-91cc-4604-87cf-182c5767cc5e.pdf
Earnings Release
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Press Release
Mirchi reports Rs 11 crores profit in Q3
Mumbai, February 09, 2022: Entertainment Network (India) Ltd, the operator of India’s #1 FM radio channel Radio Mirchi , today announced results for the quarter ended Dec 31, 2021.
The Company reported 17% revenue growth to Rs. 98.9 crores, driven by 23% growth in core FM radio revenues. Tight cost control measures of the past were continued, as a result of which EBITDA grew 70% over last year to Rs.35.6 crores and PAT grew from a loss of Rs 2.7 crores last year to a profit of Rs 11 crores in Q3 this year. Though revenue for the current quarter was 33% lower than the pre-pandemic period of Q3 FY20, PAT was higher by 3%, indicative of a more efficient and leaner business.
The company’s balance sheet remains strong with Cash reserves of Rs.202 crores as on Dec 31, 2021.
Commenting on the results, Mr. Prashant Panday, MD & CEO, ENIL, said: “Q3 has been a strong quarter with core radio reporting strong results. Radio ad volumes grew by 20% and revenues by 23%. With Covid receding, we expect our Solutions business also to grow rapidly in the coming quarters. Mirchi also launched its digital app platform in international markets. The app will soon be extended to India”.
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 [email protected] Entertainment Network (India) Ltd.
Shruti Vakhariya +91 9967287527 [email protected] Adfactors P R Pvt. Ltd.