Next Radio (Radio One) has reported 10.45 per cent growth in consolidated revenues for the third quarter ended December 31, 2013 at Rs 15.22 crore from Rs 13.78 crore in the corresponding quarter of the previous fiscal.
Profit before tax in Q3 FY14 stood at Rs 1.78 crore, up from Rs 1.51 crore in the same period last year, a growth of 17.88 per cent.
Commenting on the financial results, Vineet Singh Hukmani, MD & CEO, Next Radio (Radio One) said, “Radio One continues to grow in value in a commoditised volume market. Our focus on content that engages a well-profiled educated audience, coupled with strong online connect, is ensuring our growth. Q3 saw us being EBIDTA positive across all our seven city stations. We continue to be the most low cost-high efficiency player with a consistent 30-plus per cent EBIDTA margin quarter on quarter. We have successfully announced a 20 per cent advertising rate hike from February 1, 2014 in order to fund further content and digital up-gradation. This will help us engage listeners better and offer higher value to advertisers.”
On Q4 FY14 and Phase 3 expectations, Hukmani said that radio will benefit from the Lok Sabha Elections in Q4 more than print or TV due to strengths in local city reach and connect. “Radio One, like the rest of the radio industry, looks forward to industry buoyancy that will arise as a result of Phase 3 expansion, but prior to that, eagerly awaits clarity on extension of existing licenses from TRAI and Ministry of Information & Broadcasting. Once existing players are able to extend to the 15-year licence, it is natural that bidding for new licenses will be energised,” he added.