Radio Mirchi - Good Numbers

ENIL Q4FY07 Total Income Rises 41.4%

Entertainment Network (India) Ltd. (ENIL), India’s largest private FM Radio operator, popularly known as Radio Mirchi, announced its results for the quarter and year ended March 31, 2007.

During the quarter Q4FY07, total income grew by 41.4% to Rs. 46.43 crores from Rs.32.84 crores for the quarter ended March 31, 2006 (Q4 FY06).The company’s earnings before interest, depreciation, tax and amortization (‘EBITDA’) grew 56.4% per cent to Rs. 14.25 crores and net profit stood at Rs. 10.44 crore. On a like basis (comparing 7 old stations only), EBITDA for Q4FY07 stood at Rs. 12.49 Crores, up 37.1% YoY.

Total income during the year grew by 43.6% to Rs. 170.53 Crores while EBITDA increase by 25.2% to Rs. 47.75 crores and net profit before exceptional items stood at Rs. 29.08 crore, up 47.9%. On a like basis, EBITDA for FY07 stood at Rs. 47.20 crores, up 23.8% YoY.

Bangalore, Hyderabad and Jaipur achieved a positive EBITDA in the first year of their operation. According to data based on Indian Listenership Track (ILT – 2006 Wave 2 conducted by MRUC) for the period December 2006 – February 2007, Radio Mirchi continued to retain the number one position in Mumbai, Delhi and Kolkata. Radio Mirchi has increased its lead over #2 player in Mumbai from 39% to 43%, with 2.23 million out of a total of 4.97 million daily listeners, it also maintains its 2:1 lead over #2 player in Delhi, capturing 3.45 million out of 5.76 million daily listeners and in Kolkata has a lead of 79% over #2 player with 2.53million listeners out of a total of 4.2 million daily listeners.

Radio Mirchi completed the launch of two new stations Patna and Jalandhar in the April 2007. These are among the 22 stations slated to be rolled out in phase II.

The Company reported consolidated net profit before exceptional items of Rs. 25.14 Crores, up 18.4% YoY. Consolidated total income was Rs. 237.60 Crores and EBITDA was Rs.45.28 Crores.

Commenting on the performance of the company, Mr. A P Parigi, CEO and Managing Director, ENIL said, “This quarter has seen high intensity of competitive activity and Radio Mirchi’s growth performance is a clear sign of the leadership status of the brand, success of the strategy and strength of the management team. The other engine of growth of the Company, Times Innovative Media Limited has chipped in with a good performance, bagging some of the prestigious projects in Times OOH media this quarter.” During the quarter, Times Innovative Media Limited, a wholly owned subsidiary of ENIL, was granted licenses for the Advertisement Rights at both the domestic and international terminals of Chhatrapati Shivaji International Airport, Mumbai and Indira Gandhi International Airport, New Delhi.

Source : Moneycontrol.com