Reliance Broadcast Network Ltd (formerly Reliance Media World Ltd), part of the Reliance ADA Group recorded highest quarter revenues in Q1 FY11. The company, which has recently transformed itself from a radio company to a multi-media entity, has announced its results on the back of strong growth in the radio and out of home businesses.
Reliance Broadcast Network’s Q1 FY11 revenue stood at Rs 52.16 crore. The company reported a 7.4 per cent growth in radio broadcasting revenue as against Q4 of FY09-10. Radio business maintained a 21 per cent market share, making Big FM one of the largest radio players in the country.
Commenting on the performance, in a prepared statement, Tarun Katial, CEO, Reliance Broadcast Network Ltd, said, “We have continued to remain EBITDA positive for the quarter, which is very encouraging. With a clear business mandate to seek long term, low risk and quick payback inventory in the out of home business, we have made some significant strides in the properties that we have acquired, which promise to add to the revenues of the business and bottom-line. It is our integrated multi-media sales approach that has borne fruit, resulting in increased sales across the business verticals. Phase III, expected to happen shortly, will take the business penetration deeper into the country, working as an impetus for parallel growth of all business verticals and contributing significantly to the return on investment for stakeholders.”