Next Radio, which runs radio stations in seven cities under the Radio One brand, has declared its financial results for the quarter ending June 2013. Next Radio is the joint venture of Next Mediaworks and BBC Worldwide.
Radio One has recorded Q1 FY14 topline revenue of Rs 13.94 crore, up 26.4 per cent from Rs 11.02 crore in the corresponding period last fiscal.
EBIDTA profit was up 51.4 per cent at Rs 4.27 crore this quarter from Rs 2.82 crore in the same period last year. EBIDTA margin stood at 31 per cent.
The company made profit before tax of Rs 0.28 crore this quarter as compared to a loss of Rs 2.28 crore in the same period last year, registering a 112.2 per cent rise in profit.
Commenting on the Q1 results, Vineet Singh Hukmani, MD & CEO, Radio One said, “We are on track with our strong and well established differentiation strategy and the lowest cost of operations in the industry, and are now able to scale up even in a slow economy. In the coming quarters, we will reveal new and exclusive initiatives that will propel us to the next level of radio growth.”
As is known, Radio One operates international format stations in Delhi and Mumbai, Hindi Retro format stations in Ahmedabad and Kolkata, premium Bollywood format stations in Bangalore and Pune, and a 100 per cent request format in Chennai.