Mirchi reports strong results for Q3-2014

BENGALURU:  While announcing the quarterly results for Q2-2014 (last quarter), ENIL’s ED and CEO Prashant Panday had said, “The media sector witnessed a consolidation of sorts in Q2. The bigger brands have done well, while the rest languished, FM radio has again done better than all traditional media, growing at between 10-12 per cent over last year, as has Mirchi”.  


The Bennett, Coleman & Co. Limited promoted Indian private FM player Entertainment Network (India) Limited (ENIL) which operates FM radio broadcasting stations through the brand Radio 


Mirchi in 32 Indian cities announced 37.7 per cent growth in PAT to Rs 25.88 crore in Q3-2014 as compared to Rs 18.79 crore in the corresponding quarter of last year. This quarter’s PAT was 58.1 per cent more than the Rs 16.38 crore in Q2-2014.


Over a nine month period ended 31 December 2013, ENIL reported 45.9 per cent growth in PAT to Rs 62.33 crore in Q3-2014 from Rs 42.71 crore in the corresponding nine month period of last year.  


For FY 2013, ENIL reported PAT of Rs 68.32 crore. Considering the consistent good performance of the company year-on-year and the strong cash position the ENIL board of directors had recommended a maiden dividend of 10 per cent i.e. Re.1/- per equity share of Rs 10/- for FY 2013.


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