Music Broadcast Limited Q4 FY19: EBITDA grew by 17% YoY at Rs. 31.96 cr

Topline growth of 8% YoY at Rs 81.87 cr, while annual operating profit crosses Rs.100 crores

by exchange4media Staff
Published - May 28, 2019 8:21 PM Updated: May 28, 2019 8:21 PM
Radio City

Music Broadcast Limited (MBL), India’s 1st Private FM Radio Broadcaster, has reported its Financial Results for the Quarter and Year ended March 31st, 2019. 

Key Highlights – Q4 FY19:

  • Topline growth of 8% YoY at Rs 81.87 cr
  • EBITDA grew by 17% YoY at Rs. 31.96 cr, margin at 39.0% improvement by ~301 bps
  • PBT growth of 24% YoY at Rs. 28.15 cr, margin at 34.4% improvement by ~446 bps

Key Highlights – FY19:

  • Topline growth of 9% YoY at Rs. 324.71 cr
  • EBITDA grew by 17% YoY to Rs. 113.18 cr at a margin of 34.9%, improvement of ~230 Bps
  • PBT grew by 27% YoY to Rs. 95.53 cr at a margin of 29.4%, improvement of ~ 420 Bps
  • Strong liquidity position with Cash & Cash Equivalents incl. Investments at Rs. 250 cr

Business Update:

  • Utilization levels at ~65-70% for legacy stations and ~45-50% for Phase III stations
  • 8% rate hike in the top 12 markets
  • Listenership Market share maintained at top levels in Mumbai & Bangalore

Commenting on the results Apurva Purohit, Director said: “We are happy to share that team Radio City has delivered Revenue growth of 9% and operating margin of 34.9% despite the challenging environment in the last year. The revenue growth is due to an increase in utilization across stations along with an improvement in yields. Sectors like Government, e-commerce, Real Estate, etc have performed better as compared 2 to BFSI and Auto sectors in the last year. Because of operating leverage with increased volumes and yields, the company has delivered PBT growth of 27%. With the incumbent government returning with a clear majority and stable mandate, we expect the economy to rally based on improved sentiment in the short term and fast-tracking of reforms and government spending in the medium term. We believe this will reflect in an upward revision of ad spends by corporate and retail advertisers. In the last financial year, we have also rewarded our shareholders by way of buyback of Rs. 57 crores. Despite this cash outlay we continue to maintain strong liquidity for future growth endeavours. We are very also pleased to share that Music Broadcast Limited ranked #6 on this year’s Best Workplaces in Asia, 2019. The study measured almost 1,200 eligible organizations that successfully created high-trust and high-performing cultures in the Asia Pacific and the Middle East regions. More than 1.6 million employees participated in the survey studies in 8 Asia-region countries where Great Place to Work is represented. It will be our constant endeavour to deliver superior performance in the years to come.”

 

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