Entertainment Network (India) Limited : Radio Mirchi reports strong results; PAT grows 59%
November 12, 2013 at 06:47 pm IST
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Radio Mirchi reports strong results; PAT grows 59%
Mumbai, November 12, 2013:
Entertainment Network (India) Ltd., India's leading Private FM Radio operator, popularly known as Radio Mirchi, today reported a net profit growth of 59.4%. Profit after tax (PAT) of the Company for the quarter ended September 30, 2013 stood at Rs. 16.4 crores compared to Rs. 10.3 crores in Q2FY13. Revenues for Q2FY14 stood at Rs. 86.5 crores, compared to Rs. 77.1 crores in Q2FY13, up 12.3% over the previous year. The Company's Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) stood at Rs. 25.3 crores, up 33.6%. The Company's EBITDA margin improved from 24.5% in Q2FY13 to 29.2% during the current quarter.
Commenting on the results, Mr. Prashant Panday, ED & CEO, ENIL, said
"The media sector witnessed a consolidation of sorts in Q2. The bigger brands have done well, while the rest languished. FM radio has again done better than all traditional media, growing at between 10-12% over last year, as has Mirchi. The radio industry now looks forward to a quick roll-out of Phase-3, which MIB officials confirm will start off very soon. Mirchi is best placed to take advantage of the opportunities presented by Phase-3".
About ENIL: (BSE Code: 532700) (NSE Code: ENIL)
Entertainment Network (India) Limited (ENIL) is a leading city-centric media company and is listed on the BSE and NSE. Incorporated in June 1999, ENIL operates FM radio broadcasting stations through the brand Radio Mirchi in 32 Indian cities and is headquartered in Mumbai. ENIL has one subsidiary namely, Alternate Brand Solutions Limited (ABSIL), through which it operated its experiential marketing brand 3600 Experience in the past. All the Intellectual Property Rights business of ABSIL has been acquired by ENIL through a Business Transfer Agreement (BTA) with effect from July 1, 2012. The promoter of ENIL, Bennett, Coleman & Co. Limited, is the flagship company of The Times Group, which has a heritage of 175 years and is one of India's leading media groups.
For More Information Please Contact:
Dhiraj Rajpal - +91 (22) 6757 4444 dhiraj.rajpal@adfactorspr.com Adfactors PR Pvt. Ltd.
Dalpat Jain - + 91 22 6753 6919 dalpatraj.jain@timesgroup.com Entertainment Network (India) Ltd.
Entertainment Network (India) Limited is an India-based advertising company. The Company generates its advertising revenues by the sales of airtime in the Companyâs frequency modulation (FM) radio broadcasting stations, activations, concerts and monetization of Companyâs digital and other media properties. The Company operates FM radio broadcasting stations in 63 Indian cities. The Companyâs subsidiaries include Alternate Brand Solutions (India) Limited, Entertainment Network, Inc., Entertainment Network, LLC, Global Entertainment Network Limited W.L.L., and Mirchi Bahrain W.L.L. Its brands include Radio Mirchi, Mirchi Plus, Mirchi 95, Mirchi Love and Kool FM. The Company operates in Ahmedabad, Akola, Amravati, Amritsar, Asansol, Aurangabad, Bengaluru, Bharuch, Bhavnagar, Bhopal, Chandigarh, Chennai, Coimbatore, Delhi, Nagpur, Pune, Guwahati, Hubli Dharward, Hyderabad, Indore, Jabalpur, Jaipur, Jalandhar, Jammu, Jamnagar, Jhansi, Jodhpur, Kolkata, and other.
ENTERTAINMENT NETWORK (INDIA) LIMITED 
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