Radio Mirchi Q3 net profit flat at Rs 187 million

Radio Mirchi Q3 net profit flat at Rs 187 million

MUMBAI: Entertainment Network India Limited‘s (ENIL) net profit for fiscal third quarter remained flat at Rs 187 million against a profit of Rs 182 million reported in the year-ago period.

ENIL, which owns and operates FM radio station Radio Mirchi, saw its revenues for the quarter grow by 15.6 per cent to Rs 874 million from Rs 753.9 million a year ago.

The company said its Ebitda for the quarter stood at Rs 302 million.

Expenses for the quarter also jumped to Rs 653.5 million from Rs 527.7 million due to increase in marketing and other expenses.

ENIL ED & CEO Prashant Panday said, "The festive season boosted revenue growth this quarter. The elections in Gujarat also contributed to growth. The advertising environment, however , remains challenging. We remain optimistic that with renewed governmental efforts at spurring growth, the advertising industry should lift off. We remain optimistic that Phase-3 roll outs will begin soon. The government has said it is top priority for them."

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