Radio City returns to profitability; Sustains the highest market share at 20%

The company recorded a top line of Rs42.0cr in Q2FY22, a growth of 40% yoy. fit After Tax for the quarter was Rs0.3cr.

Oct 22, 2021 03:10 IST India Infoline News Service

Radio City, part of Music Broadcast Limited (MBL), a subsidiary of Jagran Prakashan Ltd. has reported its Financial Results for the Quarter and Half-Year ended September 30, 2021.

The Private FM Radio Broadcaster said it maintained a leadership position with a 20% Volume Market Share. The company recorded a top line of Rs42.0cr in Q2FY22, a growth of 40% yoy. EBITDA at Rs9.4cr and EBIDTA Margin at 22.4%. Profit After Tax for the quarter was Rs0.3cr.

During H1FY22, the company maintained a leadership position with a 21% Volume Market Share. H1FY22 Top line of Rs 62.5 Crores; 41% growth YoY. Achieved EBIDTA* Break-even

Shailesh Gupta, Director said, “Stepping into the festive season, while still keeping a cautious approach towards tackling Covid-19, it makes me immensely happy to say that the company has been able to deliver emphatically. Showing a significant jump in the topline, both sequentially and on a Y-o-Y basis, the company has delivered an EBIDTA Margin of 22.4% and has turned around at PAT level.

With the country opening up, advertising spends coming back gradually, multiple international sporting events, widespread product launches across sectors and resumption of movie screenings, the industry has received a fresh dose of enthusiasm and vigour. This when combined with the omni-channel strategy and the digital integration approach, gives the company the much-needed flexibility and security to manoeuvre through these fast changing and transformative times.

The cost saving initiatives put in place in the previous years have yielded fruitful results translating into a healthier bottom line and enhancing the operational efficiency. In addition to this, keeping in line with the company’s rationale of maintaining a strong liquidity position, for tackling uncertainties, the cash reserves have been maintained at Rs. 245 Crores as on 30th September 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.”

Towards close of trade on Friday, Music Broadcast Ltd was trading at Rs24.80 per piece down by Rs0.1 or 0.4% from its previous closing of Rs24.90 per piece on the BSE.

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