MUMBAI: Entertainment Network India (ENIL),which manages the radio FM brand Radio Mirchi has posted a net profit of Rs 49.31 million for the quarter ended 30 September.

According to an official release, the company has reported 16 per cent increase in net profit for the quarter. Net profit rose to Rs 49 million compared to Rs 43 million in the corresponding period last year.
The company’s earnings before interest, depreciation, tax and amortisation (EBITDA) grew 17.6 per cent to Rs 99 million from Rs 84 million in the same quarter a year ago.

On a like basis (comparing seven old stations only), EBITDA for the quarter stood at Rs 103 million, up 22.4 per cent year on year (YoY).

Total income for the quarter recorded at Rs 424 million, while net sales (net sale indicates airtime sales) had been registered at Rs 411 million.

The expenditure incurred amounting to Rs 325 million has been attributed to production expenses (Rs 24 million), license fees (Rs 21 million), marketing expenses (Rs 130 million), administration & other expenses (RsS 72 million) and employee cost (Rs 79 million).

The company had introduced Employees Stock Option Scheme (ESOP) for its future and existing permanent employees and directors and future and existing permanent employees and directors of its subsidiary company and holding company.

Quoting the data based on Indian Listenership Track (ILT - Wave 9), an independent research conducted by MRUC, for the period July- September '06, the company states, "Radio Mirchi enjoyed the highest listenership of 4.46 million in Delhi out of a total listenership of 6.02 million listeners, comfortably ahead of the competition."

In Mumbai too, Radio Mirchi dominated listenership with 2.21 million out of a total of 4.98 million listeners. Commenting on the performance of the company ENIL CEO & MD AP Parigi said, “We continue to focus on building listenership through sustained innovations in marketing and programming as the latest listenership numbers in Delhi and Mumbai indicate. We are confident of magnetising this and maintaining our growth trajectory.”

The company launched Visual Radio in Mumbai in September ’06 after it launched in New Delhi in July ’06.