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MUMBAI:
Entertainment Network India Ltd. (ENIL), which operates the
FM station Radio Mirchi, has seen a 47 per cent surge in standalone
revenues to stand at Rs 669 million for the quarter ended
31 March, 2008.
During the period, the company’s net profit stood at
Rs 71 million.
On
a consolidated basis, the company’s revenue was Rs 1.26
billion for fourth quarter of FY 08.
Total
income for the full year ended March 31, 2008 on a standalone
basis was Rs 2.29 billion, up 37 per cent from the year ago
period. Consolidated revenues for the full year ended March
31, 2008 stood at Rs 4.16 billion.
During
the quarter, Radio Mirchi completed the second phase of the
rollout with the launch of three new stations that includes
Raipur, Thiruvanathapuram and Jabalpur. With the launch of
Jabalpur station in February, Radio Mirchi is today operational
in 32 cities.
Enil
MD A P Parigi said, "With the completion of the rollout
in our radio business this quarter, we have crossed a significant
milestone. The early results from the investments in the new
stations are very encouraging. We believe our other growth
engines viz. outdoor advertising business and event management
business are also in an exciting phase."
Radio
Mirchi CEO Prashant Panday added, ' Mirchi as a brand remains
very strong and continues to command close to a 46-48 per
cent share of the private FM market. This is testimony to
the strength of the brand. Enil outdoor subsidiary Times Innovative
Media Limited (TIML) won several prestigious outdoor advertising
contracts.
During
the quarter, TIML won several outdoor advertising contracts
that include kiosks and BRT bus shelters at New Delhi, Unipoles
at Jaipur and bus shelters in Bangalore, Hyderabad and Chandigarh.
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