Radio Mirchi Posts 4.9% Rise in Q3 Revenue
Mumbai: Beating the demonetisation woes, Entertainment Network India, which operates FM radio brand Radio Mirchi, posted a 4.9% increase in its third-quarter revenue.
Total revenue for the quarter through December increased to .₹ 150.6 crore from .₹ 143.6 crore a year earlier. The company posted a net profit of .₹ 16.4 crore, compared with .₹ 29.2 crore during the year-ago period. Operating profit was .₹ 38.1crore, against .₹ 49.7 crore a year ago. “We are poised on the cusp of a strong growth curve with the Love Network – 8 ‘Mirchi Love’ channels of our own and 3 ‘Ishq FM’ channels of TV Today – now fully operational,” managing director and CEO Prashant Panday said.
“This network along with the original ‘Mirchi’ network – now comprising 42 channels – offer advertisers the widest coverage across the country. With the government soon to announce the results of the 2nd batch of (airwave) auctions held recently, we will grow even bigger. These are exciting times,” he said. The company is part of the Times Group, which publishes The Economic Times.
Total revenue for quarter through Dec increased to 150.6 cr from 143 cr a year earlier