Music Broadcast reports 71% yoy volume growth in Q1FY22, top-line at Rs20.5cr; Stock gains 1%

Q1 FY22 Top line of Rs20.5cr. The company maintained Leadership Position with 21% Volume Market Share.

Jul 23, 2021 10:07 IST India Infoline News Service

Radio City, a part of Music Broadcast Limited (MBL), India’s 1st Private FM Radio Broadcaster, has reported its Financial Results for the Quarter ended June 30, 2021

Key Highlights –Q1 FY22:
  • Maintained Leadership Position with 21% Volume Market Share
  • 71% volume growth on yoy basis
  • Q1 FY22 Top line of Rs20.5cr
  • EBITDA at Rs(9.3)cr; PAT at Rs(12.9)cr
Commenting on the results Shailesh Gupta, Director said: “Entering the new financial year, reeling with the 2nd wave of Covid-19 presented a new set of challenges, owing to the localized lockdowns and mixed indicators from the different sectors that form a substantial part of our clientele and move the industry overall.

While it did not dent the operations as severely as last year, it certainly halted the momentum of recovery towards normalcy or even the possible capitalization of the growth prospects on offer in the industry

A strong balance sheet with ample reserves for testing times as the ones we have just witnessed, have always been the focus of the company, hence, conscious efforts aimed at a good liquidity position have led to our cash reserves being Rs. 242 Crores as on 30th June as compared to Rs. 236 crores as on 31st March 2021.

Regarding the bonus issue of the non-convertible non-cumulative preference shares, SEBI has accorded its approval and we have filed the scheme with NCLT and are awaiting final approval from them.”

On Sensex at around 10:12 AM, Music Broadcast was trading at Rs25.60 per piece up by Rs0.3 or 1.19%.

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