Music Broadcast Limited (MBL), which operates Radio City 91.1 FM, has reported a growth of 16% in profit after tax (PAT) in the third quarter of 2018 fiscal.
The company has delivered a topline growth of 9% on (year to date) YTD basis. In the nine months since April 2017, PAT grew by 10% for MBL. The company says it is ahead of the industry growth (15 Aircheck Markets).
The industry volume growth was 2%, whereas Radio City grew at 5% on a YTD basis. The volume share grew from 20% in FY17 to 21% in FY18 YTD till December.
It has delivered over 30% margins for the third consecutive quarter in the quarter that ended December 31, 2017.
Some of the key highlights of the unaudited financial results of nine months of FY18 are:
*Strong revenue growth at 9%
*Robust value growth in legacy markets
*Revenue growth majorly contributed by new stations
*Maintained EBITDA margins at 31.4%
*PAT grew by 10%
*RAM market share in Bengaluru and Mumbai at 25% and 14%, respectively
Some other key highlights of Q3 FY18 are:
*Steady revenue growth at 5%
*Maintained EBITDA margins at 30.6%
*PAT grew by 16%
*Radio City announced Indiaâs first video FM Video City
*Radio City announced Indiaâs biggest listeners choice awards, Radio City Cine Awards, which garnered more than two crore votes across three languages
*Radio City bagged a total of 46 awards nationally and internationally
Apurva Purohit, Director, Music Broadcast, said, âWe have delivered a strong topline growth of 9% against mixed trends of the market. The growth is achieved mainly on the back of rapidly growing new markets along with an uptick in volumes. Despite a non-conducive environment, we have grown at 5% in volume terms in comparison to the industry growth rate of 2%.â
She further added, âThere has been a 20% revenue growth in both November and December, we believe that the impact of demonetisation and GST has reduced to a great extent and business will only continue to grow from here. There are signs of an economic revival which will further bolster our growth prospects.â