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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.”
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