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Radio Mirchi is first Indian radio company to enter Rs 100 cr PAT club
MUMBAI: Entertainment Network India Ltd (ENIL), the operator of leading FM radio channel Radio Mirchi, has entered the Rs 100 crore (Rs 1 billion) net profit club in FY15.
Buoyed by better sales, ENIL became the first radio company in India to cross the Rs 1 billion mark in profitability.
For the full financial year ended 31 March 2015, the company reported a net profit of Rs 106 crore (Rs 1.06 billion), up 27 per cent from Rs 83.4 crore (Rs 834 million) a year ago.
Revenue grew 14 per cent to Rs 438.5 crore (Rs 4.39 billion) in FY15, from Rs 384.5 crore (Rs 3.84 billion) a year ago.
EBITDA grew 16.3 per cent to Rs 145 crore (Rs 1.45 billion).
“It’s a very happy feeling for all Mirchi folks that the company they created has entered the Rs 100 crore PAT club! Our sustained focus on cost management as well as better sales in our radio, TV properties, and activations businesses has helped reach this milestone,” said ENIL MD and CEO Prashant Panday.
He further added, “We see the future even brighter with Phase III auctions coming up next month. This opportunity to expand is coming after nearly 10 years and we plan to make the most of it. Overall, Mirchi remains the strongest brand in radio with a 33–35 per cent share of the revenue market in its cities and a listenership lead across most of its 32 cities.”
For the fiscal fourth quarter ended 31 March 2015, the FM radio company posted 20.1 per cent growth in PAT to Rs 25.5 crore (Rs 255 million), compared to Rs 21.2 crore (Rs 212 million) in the earlier year.
Revenues grew 8.8 per cent to Rs 124.4 crore (Rs 1.24 billion), from Rs 114.4 crore (Rs 1.14 billion) recorded a year ago.
EBITDA stood at Rs 34.6 crore (Rs 346 million), up 9.7 per cent. The company’s EBITDA margin improved to 27.8 per cent from 27.5 per cent in Q4 FY14.
ENIL is well poised to participate in the Phase III auctions as it has a net cash balance of Rs 565 crore (Rs 5.65 billion).