Music Broadcast Limited reports 24.5% hike in net profit for Q1FY19
MBL's operating profit too improved by 17.5 per cent YOY
Music Broadcast Limited (MBL), which owns and operates FM radio stations under the Radio City, reported 24.5 per cent increase in net profit for its Q1FY19 to Rs 13 crore, up from from Rs 10 crore in Q1FY18.
The company also reported improvement in operating profit by 17.5 per cent YOY. Topline is up by 8 per cent to Rs 75.7 crore from Rs 70 crore.
The key highlights were hike in rate in all core markets, improvement in utilization in Phase III Markets with a positive contribution to EBITDA and 34.4 per cent operating margin delivery testimony of fixed costs and operating leverage playing.
Talking about the results, Apurva Purohit, Director of MBL, said, “I am pleased to inform you that our company continued its trend of delivering stronger than expected EBITDA margins, with this quarter’s margin being 34 per cent. Our topline showed a growth of 8 per cent, on the back of rate hikes in all 12 core markets and improved utilizations in the Phase III stations in accordance with our strategy formulated for the year."
"Our PAT growth, which is more than three times of the top line growth at 25%, reiterates the fixed cost nature of our business as well as validates the strategic choices we made while bidding, i.e. to expand our geographic footprint, rather than deepen it at unviable costs," Purohit added.
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