Entertainment Network India : Radio Mirchi Q4 revenue up 18.6% at Rs 162 crores
May 23, 2017 at 10:56 am EDT
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Radio Mirchi Q4 revenue up 18.6% at Rs 162 crores
Mumbai, May 23, 2017:
Entertainment Network (India) Ltd, the operator of India's #1 FM radio channel Radio Mirchi, today announced its result for the quarter and year ended March 31, 2017.
Despite strong De-Monetization headwinds, the company posted a strong growth in operating revenues of 18.6% at Rs 162.3 crores. After considering Other Operating Income, the growth was 12.4% at Rs. 165.5 crores. The Company reported operating EBITDA of Rs 35.2 crores and PAT of Rs.13.8 crores for the quarter ended March 31, 2017, both lower because of the impact of de-monetization and investments in Phase-3 stations.
For FY17, operating revenue grew by 11.6% to Rs. 549.5 crores as against Rs. 492.1 crores in FY16. Total revenues, including Other Operating Income, rose 9.4% from Rs 508.6 crores to Rs 556.5 crores. The Company reported operating EBITDA of Rs 125.9 crores and PAT of Rs. 54.5 crores for the year ended March 31, 2017, both lower because of reasons similar to Q4.
Commenting on the results, Mr. Prashant Panday, Managing Director and Chief Executive Officer, ENIL, said: 'De-monetization hit the media industry adversely in Q4. ENIL's core radio business was also impacted. However, our strong non-radio businesses and new Phase-3 stations helped us post strong revenue growth. EBITDA and PAT were impacted by De-monetization and continuing investments in brand building for new stations. What is extremely satisfying is that our new stations are doing extremely well both in listenership and revenues'
About ENIL: (BSE Code: 532700) (NSE Code: ENIL)
Entertainment Network (India) Limited (ENIL) is a leading city-centric media company and is listed on the BSE and NSE. Incorporated in June 1999, ENIL operates FM radio broadcasting stations through the brand Radio Mirchi in 40 Indian cities and is headquartered in Mumbai. Promoter of ENIL, Bennett, Coleman & Co. Limited (BCCL), is the flagship company of The Times of India Group, which has a heritage of 175 years and is one of India's leading media groups.
ENIL - Entertainment Network (India) Limited published this content on 23 May 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 23 May 2017 14:55:30 UTC.
Original documenthttp://www.enil.co.in/media-center-64.php
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Entertainment Network (India) Limited is an India-based advertising company. The Company generates its advertising revenues by the sales of airtime in the Companyâs frequency modulation (FM) radio broadcasting stations, activations, concerts and monetization of Companyâs digital and other media properties. The Company operates FM radio broadcasting stations in 63 Indian cities. The Companyâs subsidiaries include Alternate Brand Solutions (India) Limited, Entertainment Network, Inc., Entertainment Network, LLC, Global Entertainment Network Limited W.L.L., and Mirchi Bahrain W.L.L. Its brands include Radio Mirchi, Mirchi Plus, Mirchi 95, Mirchi Love and Kool FM. The Company operates in Ahmedabad, Akola, Amravati, Amritsar, Asansol, Aurangabad, Bengaluru, Bharuch, Bhavnagar, Bhopal, Chandigarh, Chennai, Coimbatore, Delhi, Nagpur, Pune, Guwahati, Hubli Dharward, Hyderabad, Indore, Jabalpur, Jaipur, Jalandhar, Jammu, Jamnagar, Jhansi, Jodhpur, Kolkata, and other.
ENTERTAINMENT NETWORK (INDIA) LIMITED 
