ENIL Q1 net profit more than doubles to Rs 9.2 cr

MUMBAI: Entertainment Network India Ltd (ENIL), the operator of FM radio channel Radio Mirchi, has registered a 107.3% increase in net profit to Rs 9.2 crore for the quarter ended 30 June compared to Rs 4.44 crore in the same quarter of the previous fiscal.

The company’s EBITDA grew by 65% to Rs 28.4 crore from Rs 16.7 crore. Revenue grew by 16.4% to Rs. 121.6 crore from Rs 104.5 crore. Expenditure was up at Rs 109.3 crore from Rs 104.2 crore.

Commenting on the results, ENIL MD & CEO Prashant Panday said, “Our numbers show that we have fully bounced back from the demonetization and GST induced lows of last year. All our products have done well. Our core radio revenues have grown by 22%. Our activations & concerts margins have improved from 24% to 28%. Our profit growth has been exemplary too. With our number 1 position in listenership in most important markets, the financial results are hardly a surprise!”

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