Q2-2016: ENIL reports 11.6% YoY revenue & 15.8% PAT growth

BENGALURU: Indian private FM player Entertainment Network (India) Limited (ENIL) reported 11.6 per cent increase in Total Income from Operations (TIO) in the quarter ended 30 September, 2015 (Q2-2016, current quarter) at Rs 116.27 crore as compared to the Rs 104.14 crore in Q2-2015. TIO in the current quarter was 14.5 per cent more than the Rs 101.56 crore in immediate trailing quarter.

The company?s profit after tax (PAT) in Q2-2016 increased 15.8 per cent to Rs 26.97 crore (23.2 per cent margin) as compared to the Rs 23.30 crore (22.4 per cent margin) in the corresponding year ago quarter and was 4.2 per cent more than the Rs 25.88 crore (25.5 per cent of TIO) in Q1-2016. The company had entered the Rs 100 crore PAT club in FY-2015 with a PAT of Rs 105.98 crore (24.2 per cent margin) on a TIO of Rs 483.48 crore. 

Notes:  (1) 100,00,000 = 100 Lakhs = 10 million = 1 crore

(2) The numbers in this report are consolidated unless stated otherwise.

Let us look at some of the other numbers reported by ENIL

The company?s EBIDTA in Q2-2016 at Rs 35.71 crore (30.7 per cent margin) was 13.7 per cent more than the Rs 31.40 crore (30.2 per cent margin) in the corresponding year ago quarter and almost flat (up by 90 basis points) as compared to the Rs 35.38 crore (34.8 per cent margin) in the previous quarter.

ENIL total expense (TE) in Q2-2016 at Rs 90.86 crore (78.1 per cent of TIO) was 12.3 per cent more than the Rs 80.89 crore (77.7 per cent of TIO) in Q2-2015 and was 22.2 per cent more QoQ than the Rs 74.38 crore (73.2 per cent of TIO) in Q1-2016.

ENIL paid 48.8 per cent higher license fee in Q2-2016 at Rs 7.83 crore (6.7 per cent of TIO) as compared to the Rs 5.27 crore (5.1 per cent of TIO) in Q2-2015 and 53.3 per cent more than the Rs 5.11 crore (5 per cent of TIO) in Q1-2016.

The company?s marketing expense in Q2-2016 at Rs 15.47 crore was (13.3 per cent of TIO) was seven per cent lower than the Rs 16.63 crore (16 per cent of TIO) in Q2-2015, but 37 per cent more than th Rs 11.29 crore (11.1 per cent of TIO) in Q1-2016.

Employee Benefit Expense (EBE) in Q2-2016 at Rs 21.67 crore (18.6 per cent of TIO) was 7.5 per cent more than the Rs 20.17 crore (19.4 per cent of TIO), but was 1.9 per cent lower than the Rs 22.10 crore (21.8 per cent of TIO) in Q1-2016.

ENIL managing director and CEO Prashant Panday said, ?We are extremely happy with our results. Despite a sluggish economy, we have grown our revenues and profits substantially. With Phase-3 auctions over, we are gearing up to launch brand Mirchi into exciting new towns like Kochi and Chandigarh, as well as launch our second brand of radio in most of the major markets of the country. Radio is going to boom in the next five years, and Mirchi will surely be at the forefront.?

ENIL?s participation in the first batch of Phase-3 auctions has resulted in an expansion of its footprint into seven new towns - Chandigarh, Kochi, Kozhikode, Jammu, Srinagar, Guwahati and Shillong.

Further, ENIL recently received the permission from the Ministry of Information & Broadcasting (MIB) to acquire four stations from TV Today Network Limited, viz., Amritsar, Patiala, Shimla and Jodhpur ? which the company says will be re-branded and re-launched shortly as Mirchi, adding to its North India network strength. With these 11 stations, the core Mirchi brand will now be available in 43 cities.

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