Television

Radio Mirchi Q3FY07 turnover rises 31%, net profit up 14%

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MUMBAI: The Times Group's private FM Radio operator Entertainment Network India Ltd (ENIL) - which operates stations under the brand name Radio Mirchi - has announced its results for the quarter ended 31 December 2006.

During the quarter (Q3FY07), total income grew by 30.6 per cent to Rs 484.1 million compared to Rs 370.7 million for the corresponding quarter in the previous year.

The Company’s earnings before interest, depreciation, tax and amortization (Ebitda) grew 20.8 per cent to Rs 176.5 million and net profit stood at Rs 124 million, up 13.9 per centg YoY. On a like basis (7 Phase I stations only), Ebitda for Q3FY07 stood at Rs 151.1 million, up 3.4 per cent YoY.

Total income during YTD December 2006 grew 46 per cent to Rs 1,263 million while Ebitda increased by 15.4% to Rs. 33.50 crores. On a like basis (7 Phase I stations only), Ebitda during YTD December 2006 stood at Rs 347.1 million, up 19.6 per cent YoY.

The new stations namely Bangalore, Hyderabad and Jaipur recorded Ebitda margin of 28.2 per cent for the quarter. According to data based on Indian Listenership Track 2006 (ILT – Wave 2 conducted by MRUC) for the period September- November 2006, Radio Mirchi retained the number one position in Mumbai and Delhi while establishing itself as the dominant number one station in Kolkata too. Radio Mirchi has increased its lead over #2 player in Mumbai from 30 per cent to 40 per cent while maintaining its 2:1 lead in Delhi, a company release asserts.

During the quarter, Radio Mirchi premiered the music of blockbusters which include Vivaah, Dhoom2, Babul and Guru on its network.

Commenting on the performance of the company, Enil managing director and CEO AP Parigi said, “In the emerging competitive landscape, Radio Mirchi has again demonstrated not only its brand leadership in the new markets of Bangalore, Hyderabad and Jaipur but has also demonstrated robust growth in financial terms. In the new markets, within the short span of nine months, the company has achieved an Ebitda breakeven.”

Based on the present rate of progress, the company is confident of completing rollout of the remaining 22 stations by 31 July, 2007.

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