Next Radio (Radio One) has reported 17 per cent growth in its revenues for FY2013-14 at Rs 58.97 crore as compared to Rs 50.41 crore revenues reported in FY13. Profit before tax registered a jump of 236 per cent for the financial year ended at Rs 4.86 crore as against a loss of Rs 3.56 crore in FY13. The EBIDTA margin for FY14 was at 35.3 per cent.
Revenues for the fourth quarter ended March 31, 2014 grew 20.24 per cent from Rs 13.04 crore in Q4 FY13 to Rs 15.68 crore in Q4 FY14. The EBIDTA margin for Q4 stood at 36.2 per cent. Profit before tax grew 174 per cent from a loss of Rs 2.55 crore to a profit of Rs 1.9 crore in Q4 FY14, as compared to the same period in the last financial year.
Next Radio reported its Q4 ended and FY2013-14 ended audited financials at its board meeting held on April 29, 2014.
Commenting on the financial results, Vineet Singh Hukmani, MD & CEO, Next Radio (Radio One) said, “All our seven metro stations are EBIDTA positive for the first time on the back of real local differentiation. We have made significant strides in engaging our audience both on air and digitally on all content innovations. We are PBT positive as a company for the first time, improving our profit before tax by 236 per cent from last year. Our EBIDTA margin at 35.3 per cent is in line with the best in the industry. We have generated 98 per cent more cash from operations than we did last year, which keeps us on track on debt payments and significant reduction in interest costs. We are well poised to move to the next level of growth once Phase III commences before March 2015 as recommended by TRAI.”