Radio Mirchi Q2 net loss at Rs 32.77 million

Radio Mirchi Q2 net loss at Rs 32.77 million

MUMBAI: Entertainment Network India Limited (ENIL) has posted a standalone loss of Rs 32.77 million for the quarter ended 30 September, as against a net profit of Rs 6.39 million in the corresponding quarter last fiscal.


The company says that it has incurred loss due to amortization of licence fee and depreciation charges on equipments in 22 new stations.



During the quarter, ENIL?s income has jumped 15 per cent to stand at Rs 615.63 million, as compared to Rs 535.21 million in the year ago period.


ENIL MD AP Parigi said, ?Our strong brands, innovative value propositions and experienced management teams not only drive growth in good times but build resilience to face a challenging business environment; anticipated in the coming months.?



Radio Mirchi CEO Prashant Panday said, ?It has been a satisfying quarter in an otherwise tough advertising environment. The Mirchi brand continues to remain resilient and strong, holding on to a 40-41 per cent share of the private FM revenues.?



Total expenditure in the second quarter has increased to Rs 615.63 million, compared to Rs 535.21 million in the year ago period. ENIL has spend Rs 54.69 million in production, Rs 33.40 million in licence fee and Rs 100.88 million on marketing.







On a consolidated basis, the company has posted a net loss of Rs 182.11 million, as against Rs 171.99 million in the year ago period.



Consolidated total income has increased 27.3 per cent to stand at Rs 1.09 billion to Rs 862.94 million in the corresponding quarter last fiscal.




Times Innovative Media MD Sunder Hemrajani said ?The company achieved a revenue growth rate of 39.4 per cent inspite of the challenging economic environment. This was achieved through significant growth in the customerbase. During Q2 FY09, over 50 new customers across different sectors have been added. In addition, the new inventory created at Mumbai and Delhi airports has received encouraging response from the customers, domestic as well as global.?

Sign up for our Newsletter

subscribe for latest stories