Radio Mirchi Q1 net up 34% on ad revenue growth amid slowdown

Mumbai: Radio Mirchi, Entertainment Network India Ltd?s FM radio business, has beaten the ad slowdown in the industry and improved operating margins has enabled it to report a 34 per cent rise in its net profit in the fiscal-first quarter ended 30 June 2012.

Radio Mirchi?s net profit in the first quarter was Rs 129.7 million, up from Rs 96.5 million a year earlier, as it gained from a robust growth in its advertisement revenues.

Revenue in the first quarter was Rs 689 million.

Its operating profit during the quarter was Rs 262 million, up 20 per cent from a year earlier. The company?s operating (EBIDTA) margin in the first quarter of 2012-13 was 38.2 per cent, up from 34.4 per cent a year earlier.

ENIL?s consolidated net profit in the first quarter rose 44 per cent to Rs 134.1 million from Rs 92.9 million a year earlier. Consolidated revenue for the first quarter at Rs 700.4 million was nearly flat compared with Rs 687 million a year earlier.