Q3-2016: Radio City revenue up 15%

BENGALURU: Music Broadcast Limited (MBL), which runs Radio City, reported 14.9 YoY (year-on-year) growth in operating revenue (OpRev) for the quarter ended 31 December, 2015 (Q3-2016, current quarter) at Rs 64.80 crore as compared to Rs 56.39 crore for the corresponding prior year quarter. Revenue in Q3-2016 was 16.7 per cent higher QoQ (quarter-on-quarter) as compared to Rs 55.54 crore in the immediate trailing quarter.

Note: (1) 100,00,000 = 100 lakh = 10 million = 1 crore

(2) Margins have been calculated on operating revenue in this report.

For the nine month period ended 31 December, 2015, (9M-2016, year to date or YTD), MBL reported 11.3 per cent higher OpRev at Rs 167.72 crore as compared to Rs 150.65 crore in the corresponding prior year nine month period. Though PAT in the current quarter and nine month period has reduced as compared to corresponding prior year periods, operating profit (Operating revenue minus expenses) has increased.

The company’s profit after tax (PAT) in Q3-2016 declined 5.4 per cent YoY to Rs 16.17 crore (25 per cent margin) as compared to Rs 17.10 crore (30.3 per cent margin), but increased by more than a third (increased by 34.2 per cent) from Rs 12.05 crore (21.7 per cent margin). PAT for 9M-2016 declined 30.7 per cent to Rs 25.99 crore (15.5 per cent margin) from Rs 37.53 crore (24.9 per cent margin) in the corresponding period of the previous year.

As mentioned above, Operating profit increased 22.1 per cent in the current quarter YoY to Rs 25.40 crore (39.2 per cent margin) as compared to Rs 20.80 crore (36.9 per cent margin) and increased 59.7 per cent QoQ from Rs 16.09 (29 per cent margin). Operating profit in 9M-2016 increased 17.6 per cent to Rs 56.01 crore (33.4 per cent margin) from Rs 47.63 crore (31.6 per cent margin) in 9M-2015.

Expenses in Q3-2016 were 10.7 per cent higher YoY at Rs 39.40 crore (60.8 per cent of OpRev) as compared to Rs 35.59 (63.1 per cent of OpRev) and almost flat (reduced by 0.1 per cent) QoQ as compared to Rs 39.45 crore (71 per cent of OpRev). Expenses in 9M-2016 increased 8.4 per cent to Rs 111.71 crore (66.6 per cent of OpRev) from Rs 103.02 crore (68.4 per cent of OpRev).

Jagran Prakashan numbers in brief

MBL’s parent company, Indian publishing company Jagran Prakashan Limited (JPL) reported 22.5 per cent increase in YoY consolidated operating revenue in Q3-2016 to Rs 576.36 crore as compared to Rs 470.46 crore. JPL’s advertising revenue increased 28.5 per cent YoY to Rs 434.82 crore from Rs 338.35 crore. Circulation revenues increased two per cent to Rs 102.02 crore from Rs 100 crore. JPL’s PAT in Q3-2016 increased 40.1 per cent YoY from Rs 66.62 crore.

For 9M-2016, JBL reported 17.1 per cent increase in operating revenue to Rs 1577.02 crore from Rs 1347.02 crore in the corresponding prior year nine month period, advertising revenue increased 22.6 per cent to Rs 1169.36 crore from Rs 954.17 crore, circulation revenue increased 3.5 per cent to Rs 302.36 crore from Rs 292.15 crore. PAT in 9M-2016 after extraordinary item (Rs 116.30 crore) more than doubled (up 104.3 per cent) to Rs 364.52 crore from Rs 178.43 crore in 9M-2015.

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