The company declared that the revenue grew 11 per cent for FY 14-15 as compared to FY 13-14. The EBIDTA grew 21 per cent in the same period, while Profit before Tax grew 93.3 per cent in the same period. Cash generated by the business grew 34 per cent ensuring interest costs come down due to debt retirement.
Next Radio Ltd, the joint venture between listed entity Next Mediaworks and BBC Worldwide, has declared its Q4 and annual financials of FY 14-15 in the board meeting held on April 29, 2015.
Vineet Singh Hukmani, MD & CEO, Next Radio (Radio One), said, “We continue to grow on our ‘7 city differentiated network’ approach. By growing our on air and digital innovations for which we charge a premium and keeping our operating costs lower than the industry, we have consistently delivered an EBIDTA margin of 38 per cent. Phase 3 auctions and migrations are coming very soon and we are well poised to take our company to the next level of radio and digital growth with renewed interest from our investors and bankers. We expect robust bidding in the auctions for the three metro markets namely Delhi, Bengaluru and Mumbai, where all large players would want to control multiple frequencies to get a larger control of the revenue pie for the next 15 years. And this positive excess demand is likely to drive up these auctions prices considerably.”
Tariq Ansari, Chairman, Next Media works (Parent company of Radio One) said, “Next Radio has built a solid base of loyal listeners and revenue around our strategy of differentiation in each of our markets. We are now poised to take this to the next level with an extension of our licences for 15 years and the development of a ‘tribal strategy’, which deepens engagement with our audiences and advertisers. The future is here and we are confident that Radio One is all set to leap ahead.”