Radio Mirchi’s PAT declined YOY 19.9 per cent to Rs 13.16 crore for Q3
Entertainment Network India Limited recorded a total revenue of Rs 148.4 crores for the same quarter as against Rs 150.6 crores in the year-ago quarter
Entertainment Network India Limited (ENIL) which operates Radio Mirchi in 41 Indian cities reports muted numbers for quarter ending December 31, 2017, as its Profit After Tax (PAT) declined by 19.9 per cent y-o-y to Rs 13.16 crore from Rs 16.42. ENIL recorded total revenue of Rs 148.4 crores for the same quarter as against Rs 150.6 crores in the year ago quarter. Total expenses stood at Rs 131.4 crore. Its consolidated profit after tax (PAT) declined 19.9 percent y-o-y to Rs 13.16 crore from Rs 16.42 crore.
ENIL's operating profit (earnings before interest, tax, depreciation and amortisation) during the quarter was Rs 35.6 crore, compared with Rs 38.1 crore in the year-ago period.
Prashant Panday, MD & CEO, ENIL, said: 'While our revenues dropped a notch, it was because of some issues with one single client. Had that not happened, we would have reported a 4.6 per cent growth. Fortunately, the issue has been resolved recently. There was also the impact of early Diwali which advanced as much as Rs 12 crores from this quarter into the previous one. With all this behind us, we remain confident about rapid revenue and profit growth in FY19 and beyond. We are delighted that our new Phase-3 stations have started making a profit within just a year and a half of launch!”
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