ENIL Q2 revenue jumps 46% to Rs 68.81 Cr

The jump was driven by both Radio: 50% and Solutions business: 51%, compared to the same quarter last year

e4m by exchange4media Staff
Updated: Oct 27, 2021 9:09 AM
ENIL

Entertainment Network India Limited (ENIL), the operator of FM radio channel Radio Mirchi, has reported 46% revenue growth to Rs. 68.81 cr in Q2 compared to the same quarter last year

The jump was driven by both core Radio business: 50% and Solutions business: 51%, compared to the same quarter last year.

The EBITDA gain was Rs. 8.9 crore for the quarter ended September, with the company experiencing bounceback in revenues.

The net loss of the company was Rs 7.9 crore compared to Rs 27.7 crore in the first quarter of the current fiscal. The balance sheet remains strong with cash reserves of Rs 205.7 crore as on September 30.

Commenting on the results, ENIL Managing Director Prashant Panday said, "Thanks to more pragmatic lockdowns during the second Covid-19 wave, and rapid vaccination across the country, the economic recovery has been faster this time. This has shown up in the strong results of the company."

"We expect results to remain strong in the second half of the year as well. Our solutions and digital products are providing us with a strong competitive advantage. We see ourselves morphing from Radio Mirchi to Mirchi Platforms rapidly," he added.

Apart from this, there is a growth seen in ad spending by advertisers in the last few months on the back of a strong economic recovery post Covid.

 

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