Radio City posts 40% revenue growth, returns to profitability in Q2

The company posted a net profit of Rs 30 lakh as against a net loss of Rs 6.48 crore

e4m by exchange4media Staff
Updated: Oct 26, 2021 7:32 PM
radio city

Music Broadcast Limited (MBL) has reported 40% YoY growth in revenue at Rs 42 crore for the quarter ended 30th September as against Rs 30 crore in the same quarter of the previous fiscal. The company said that it had a 20% volume market share during the quarter.

Total expenses increased to Rs 46.33 crore from Rs 42.34 crore. The company's EBITDA stood at Rs 9.4 crore, while EBITDA margin came in at 22.4%. The company posted a net profit of Rs 30 lakh as against a net loss of Rs 6.48 crore.

Commenting on the results, MBL Director Shailesh Gupta said, “Stepping into the festive season, while still keeping a cautious approach towards tackling Covid-19, it makes me immensely happy to say that the company has been able to deliver emphatically. Showing a significant jump in the topline, both sequentially and on a Y-o-Y basis, the company has delivered an EBITDA Margin of 22.4% and has turned around at PAT level.

“With the country opening up, advertising spends coming back gradually, multiple international sporting events, widespread product launches across sectors and resumption of movie screenings, the industry has received a fresh dose of enthusiasm and vigour. This, when combined with the omnichannel strategy and the digital integration approach, gives the company the much-needed flexibility and security to manoeuvre through these fast changing and transformative times.”

He further stated that the cost-saving initiatives put in place in the previous years have yielded fruitful results, translating into a healthier bottom line and enhancing the operational efficiency. “In addition to this, keeping in line with the company’s rationale of maintaining a strong liquidity position, for tackling uncertainties, the cash reserves have been maintained at Rs. 245 crore as on 30th September as compared to Rs. 236 crore as on 31st March 2021.”

Regarding the bonus issue of the non-convertible non-cumulative preference shares, Gupta said that the SEBI has accorded its approval and MBL has filed the scheme with NCLT and is awaiting final approval from them.

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