Reliance Broadcast Network Ltd (RBNL) has announced its results for the quarter ending June 2011 on the back of strong performance in its radio operations, which remain EBIT positive.
RBNL reported consolidated revenues of Rs 75.2 crore for Q1 FY12, while the total consolidated net profit stood at Rs 29.1 crore. Radio broadcasting business reported a consolidated PAT of Rs 2.3 crore.
RBNL reported losses primarily due to initial expenses related to television channels launched during the quarter – BIG Magic and BIG CBS Spark.
RBNL reported standalone Q1 revenues of Rs 80.7 crore, up by 55 per cent in the corresponding quarter of last year. The radio broadcasting business reported revenue of Rs 49.5 crore, posting a growth of 22 per cent.
Television production business posted top line of Rs 16.4 crore, while radio remained EBITDA positive at Rs 16.3 crore. RBNL’s standalone net profit stood at Rs 3.5 crore. The OOH business posted a growth of 13 per cent at Rs 5.1 crore on the back of strong sales performance.
The quarter also saw the company sign a joint venture with the leading European entertainment network, RTL Group, part of Bertelsmann AG, to launch two thematic television channels in India through an equally owned joint venture company. The channels will launch in this fiscal.