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Entertainment Network (India) Ltd — Earnings Release 2023
Feb 1, 2023
60835_rns_2023-02-01_a01d5160-c151-4d7c-ba6d-aac12fcc333e.pdf
Earnings Release
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entertainment network (India) limited
Corporate Office : 14[th] Floor, Trade World, D-Wing, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013, India. Tel: 022 6753 6983.
February 1, 2023
BSE Limited, National Stock Exchange of India Rotunda Building, P. J. Towers, Limited, Dalal Street, Fort, Mumbai- 400001 Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai – 400051
BSE Scrip Code: 532700/ Symbol: ENIL
Sub: Press Release
Dear Sir/ Madam,
Please find attached herewith the Press Release relating to the Company’s financial results for the quarter and nine months ended December 31, 2022.
For Entertainment Network (India) Limited
Digitally signed by Mehul Mehul Rasiklal Shah Rasiklal Shah Date: 2023.02.01 21:16:12 +05'30'
Mehul Shah EVP - Compliance & Company Secretary (FCS no- F5839)
Encl: a/a
Registered Office : ‘A’ Wing, 4[th] Floor, Matulya Centre, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013, India. Tel: 022 6662 0600. Fax: 022 6661 5030. E-mail: [email protected] www.enil.co.in Corporate Identity Number: L92140MH1999PLC120516
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Press Release
Mirchi reports 17.6% YoY revenue growth
Mumbai, February 01, 2023: Entertainment Network (India) Ltd, the operator of India’s #1 FM radio channel Radio Mirchi , today announced its results for the quarter ended December 31, 2022.
The Company reported revenue of ₹ 116.3 crores in Q3FY23 compared to ₹ 98.9 crores in the same quarter last year. Revenue growth was driven mainly by strong growth in Non-FCT revenues. Traditional media has been facing headwinds leading to de-growth of radio volumes, but despite that, our volumes grew 15.8% YoY.
ENIL further invested ₹ 6.1 crores in the digital platform. Without this, EBITDA for Q3FY23 stood at ₹ 32.5 crores and profit before tax stood at ₹ 13.8 crores .
The Company’s overall standalone PBT for the quarter was ₹ 7.6 crores and PAT for the quarter stood at ₹ 5.8 crores.
ENIL’s Balance Sheet remains strong with cash reserves of ₹ 227.0 crores as on December 31, 2022.
Commenting on the results, Mr. Yatish Mehrishi, CEO, ENIL, said: “I am pleased to share that we registered a strong top line growth this quarter despite macro-economic headwinds, which dampened the advertising demand across the media industry. We have gained more than 3% market share in the last one year. We are very excited with the initial response of our Digital Play - Mirchi Plus, which continue to grow at a robust pace. We expect to continue to maintain our journey on the growth path in the coming quarters.”
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.
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Runjhun Jain/Sonia Keswani Ernst & Young LLP M: 98207 20993 / 80173 93854
E: [email protected] / [email protected]
Disclaimer
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in our business segments, changes in governmental policies, political instability, legal restrictions on raising capital, and unauthorized use of our intellectual property and general economic conditions affecting our industry. ENIL may, from time to time, make additional written and oral forward-looking statements, including our reports to shareholders. The Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company.