Top Story


Home >> Media - Radio >> Article

Radio Mirchi reports Q1 net loss of Rs 1.45 crore

Font Size   16
Radio Mirchi reports Q1 net loss of Rs 1.45 crore

Affected by weakened revenue and a tough advertising market, Entertainment Network India Ltd’s (ENIL) radio business, Radio Mirchi, has reported a net loss of Rs 1.45 crore in Q1 of FY10, as against a profit of Rs 0.70 million in the corresponding quarter of the previous fiscal.

Revenue fell 13.5 per cent to Rs 50.25 crore amid stiff competition for market share and an overall ad slowdown, as against Rs 57.2 crore in Q1 of FY 09.

The Company’s earnings before interest, tax, depreciation and amortization (EBITDA) stood at Rs 9.25 crore. The company’s EBITDA margin improved from 18.2 per cent in Q1 FY09 to 18.4 per cent during the current quarter. The reported EBITDA also includes a one- time cash flow neutral charge of Rs 1.36 crore.

On a consolidated basis, ENIL reported revenues of Rs 87.3 crore during Q1 FY10, as compared to Rs 107.1 crore during Q1 FY09.

AP Parigi, who recently retired as the ENIL Managing Director, said, “Our two large business segments – radio and OOH Media – are dependent largely on the ad market. The cyclical decline in the ad market impacted these business segments. We have taken a number of measures to structurally improve our businesses. We believe these measures augur well for the long term health of all our businesses.”

Prashant Panday, CEO, Radio Mirchi, said, “In very trying times, I am happy to state that we have managed to stem any further de-growth on a sequential basis over Q4 of last year. Our market share has also climbed up to 42 per cent now. The brand is performing very well in terms of listenership. First it was IRS that showed our listenership to be double than our nearest private FM competitor. Now even RAM has shown us to be the number one brand in all the four metro markets for the last seven weeks in a row. I believe the advertising industry will start to grow again from Q3 and Mirchi is well poised to take advantage of that.”

Sunder Hemrajani, Managing Director, Times OOH, said “The worst is behind us as there is visible improvement in the OOH market scenario post the election results largely due to marked improvement in business confidence and a significant shift in the revenue trends towards the end of the quarter. The company continues to acquire new customers and would benefit from this trend positive impact of some revenue initiatives is becoming noticeable.”


Vijay Mansukhani, speaks to exchange4media about the resurgence of Onida, the scope of growth of consumer electronics market in India and the reasons why Indian consumer electronics brands don’t compete on a global scale

Projjol Banerjea opens up about hiring Anne Macdonald and GroupM's Rob Norman, and the brand's new identity

Meera Iyer tells exchange4media that in FY 2016/17, bigbasket clocked a revenue of Rs 1,400 crore. The online supermarket currently stands at 70,000 orders a day, with operations in 25 cities.

CMO, Kashyap Vadapalli on the start-up’s marketing play, why it has decided to stay away from IPL and response to its furniture rental apps

Mumbai was chosen in keeping with the company's focus on featuring their proprietary technologies over undiscovered markets like South Asia

The campaign, featuring brand ambassador Farhan Akhtar, exhorts consumers to showcase their achievements through the walls of their homes.

We list a few important stories that you may have missed in the week gone by