Music Broadcast Q3 net up 16% at Rs 11.9 cr

MUMBAI: Music Broadcast, which runs FM radio stations under Radio City brand, has seen a 16% jump in its net profit to Rs 11.9 crore for the quarter ended 31 December as against Rs 10.2 crore in the corresponding quarter of the previous fiscal.

The company’s EBITDA declined 12% to Rs 23.3 crore as against Rs 26.6 crore. EBITDA margin stood at 30.6% compared to 36.6% year ago. The company’s revenue was up 5% at Rs 76.2 crore from Rs 72.8 crore.

Music Broadcast Ltd director Apurva Purohit said, “We have delivered a strong topline growth of 9% against mixed trends of the market. The growth is achieved mainly on the back of rapidly growing new markets along with an uptick in volumes.

“Despite a non-conducive environment, we have grown at 5% in volume terms in comparison to the industry growth rate of 2%. There has been a 20% revenue growth in both November and December, we believe that the impact of demonetization and GST has reduced to a great extent and business will only continue to grow from here. There are signs of an economic revival which will further bolster our growth prospect.”

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