Mélange Finance

Radio City returns to profitability & sustains the highest market share at 20%

Mumbai, October 21, 2021: Music Broadcast Limited (MBL), India’s 1st Private FM Radio Broadcaster, has reported its Financial Results for the Quarter and Half-Year ended September 30th, 2021.

  • Maintained Leadership Position with 20% Volume Market Share
  • Q2 FY22 Top line of Rs 42.0 Crores; 40% Growth YoY
  • EBITDA* at Rs. 9.4 Crores; EBIDTA Margin at 22.4%
  • Key Highlights – Q2 FY22:
  • Maintained Leadership Position with 20% Volume Market Share
  • Q2 FY22 Top line of Rs 42.0 Crores; 40% Growth YoY
  • EBITDA* at Rs. 9.4 Crores; EBIDTA Margin at 22.4%
  • PAT at Rs. 0.3 Crores
  • *Includes other income
  • Key Highlights – H1 FY22:
  • Maintained Leadership Position with 21% Volume Market Share
  • H1 FY22 Top line of Rs 62.5 Crores; 41% Growth YoY
  • Achieved EBIDTA* Break-even
  • *Includes other income

Commenting on the results Mr. Shailesh Gupta, Director said:

“Stepping into the festive season, while still keeping a cautious approach towards tackling Covid-19, it makes me immensely happy to say that the company has been able to deliver emphatically. Showing a significant jump in the topline, both sequentially and on a Y-o-Y basis, the company has delivered an EBIDTA Margin of 22.4% and has turned around at PAT level.

With the country opening up, advertising spends coming back gradually, multiple international sporting events, widespread product launches across sectors and resumption of movie screenings, the industry has received a fresh dose of enthusiasm and vigour. This when combined with the omni-channel strategy and the digital integration approach, gives the company the much-needed flexibility and security to manoeuvre through these fast changing and transformative times.

The cost saving initiatives put in place in the previous years have yielded fruitful results translating into a healthier bottom line and enhancing the operational efficiency. In addition to this, keeping in line with the company’s rationale of maintaining a strong liquidity position, for tackling uncertainties, the cash reserves have been maintained at Rs. 245 Crores as on 30th September as compared to Rs. 236 crores as on 31st March 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 and are awaiting final approval from them.”

About Radio City

Radio City, a part of Music Broadcast Limited (MBL) is a subsidiary of Jagran Prakashan Ltd. Being the first FM radio broadcaster in India and with over 20 years of expertise in the radio industry, Radio City has consistently been the number one radio station in Bengaluru and Mumbai with 24.8% and 15.1% average listenership share respectively. (Source: RAM Data, TG: 12+ Period: Week 1, 2013 to Week 24, 2021). Radio City Delhi ranks #3 with 12.6% average listenership share (Source: RAM Data, TG: 12+ Period: Week 1, 2019 to Week 24, 2021).

Music Broadcast Limited currently has 39 stations across 12 states, comprising 62% of the country’s FM population. Radio City reaches out to over 69 million listeners in 34 cities covered by AZ Research 2019 (Source: AZ Research Report). The network provides terrestrial programming along with 17 other web-stations, through its digital interface, www.radiocity.in

Radio City has spearheaded the evolution of FM radio by offering content that is unique, path-breaking and invokes city passion amongst listeners with its brand philosophy of “Rag Rag Mein Daude City”. The network introduced humour and the concept of agony aunt on radio with Babber Sher and Love Guru respectively. It also initiated Radio City Freedom Awards, a platform to recognize independent music and provided a launch pad to budding singers with Radio City Super Singer, the first singing talent hunt on radio.

Radio City bagged 85 awards across national and international platforms like Golden Mikes, India Radio Forum, New York awards, ACEF awards etc. in FY 2019-2020. Radio City has consistently featured for the 7th time in ‘India’s Best Companies to Work For’ study conducted by Great Place to Work Institute. Radio City has also been recognized in ‘India’s Best Workplaces for Women – 2019’ and has ranked amongst the Top 75 organizations on the list. In 2020, Radio City ranked 4th in ‘Best Large Workplaces in Asia’, according to the GPTW survey.

Safe Harbor Statement:

Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential product characteristics and uses, product sales potential and target dates for product launch are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors.

This news was shared to Prittle Prattle News via press release.

Media of the day

Skip to toolbar