Reliance Broadcast Network Ltd (RBNL) announced its audited results for the financial year ending September 30, 2010. The multi-media entity from the Reliance ADA Group reported revenue of Rs 110.51 crore for FY10-11, while it posted the highest quarter revenue of Rs 58.35 crore, up by 12 per cent as compared to last quarter.
The Board of Directors of the company has decided to close the books of accounts as on September 30, 2010 and accordingly to restrict the current financial year, which commenced on April 1, 2010 to a period of six months.
Some of the key performance indicators for RBNL are as follows – EBITDA grew by 288 per cent from Q1 FY10-11 to Rs 1.91 crore; radio operations remained EBITDA positive, registering 156 per cent increase compared to Q1 FY10-11; radio inventory utilisation stood at 64 per cent; the OOH business acquired significant inventories on a long term PPP basis, while the experiential marketing business posted a 144 per cent revenue growth over Q1 FY10-11, turning EBITDA positive.
Commenting on the performance, Tarun Katial, CEO, RBNL, said, “RBNL’s strategic business blueprint, with play across media platforms, has created a robust business model that is beginning to deliver value. We are encouraged by our EBITDA growth of 288 per cent over the last quarter, which is commendable, given the traditionally lean quarter Q2 normally is. The experiential marketing vertical BIG Live has turned EBITDA positive and reinforces our strategy to unlock value through the creation of IP properties support by our multi media play. The OOH business is poised to surge ahead, with several significant acquisitions, going live in Q3. Having raised funds from the market, we are uniquely poised to participate in prospective future growth opportunities across business verticals, including new radio licenses in Phase III, adding to the bottom line as we grow further.”
Some of the key business highlights for Q2 FY10-11 are as follows – the quarter saw RBNL acquire rights to becoming the single window access to Reliance ADA Group’s 200 million+ consumers base. For 92.7 BIG FM, the new business development led to increased revenues from categories like television channels, cellular phone service, jewelry, real estate, telecom, internet, automotive sector and Q2 saw significant inventory acquisitions in Delhi. The release states that these acquisitions give BIG Street a distinct edge, with an approximate share of 40 per cent market in Delhi. BIG Live announced new IP properties – Gujarati and Orissa and executed a plethora of events. BIG Digital launched internet radio under the brand name BIG Net Radio, which is offered in nine languages. BIG CBS is Reliance Broadcast Network’s equal JV with CBS Studios International.