Ra­dio Mirchi Posts 4.9% Rise in Q3 Rev­enue

The Economic Times - - Companies: Pursuit Of Profit - Our Bureau

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

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