ENIL Q2 net jumps 50.2% even as rev dips

MUMBAI: Entertainment Network India Ltd (ENIL), the operator of FM radio channel Radio Mirchi, has witnessed a 50.2% growth in its net profit to Rs 8.9 crore for the quarter ended 30 September compared to Rs 5.9 crore.

However, EBIDTA dropped by 3.9% to Rs 27.3 crore from Rs 28.4 crore in the year-ago period. Total revenue fell to Rs 122.5 crore from Rs 125.3 crore in Q2 FY18. Total expenses declined to Rs 112.8 crore from Rs 112.9 crore.

Commenting on the results, ENIL MD & CEO Prashant Panday said, “50% increase in PAT, mid-single digit radio growth, higher margins in the non-FCT business, rising profitability in Phase-3 stations, successful execution of the Bryan Adams concert all point towards a solid performance in Q2! The slight dip in reported revenues is entirely on account of the shift in the festival season to Q3. We expect Q3 to be a quarter of solid growth!”