Radio City Delivers 18% Growth in Revenues and 54% Growth in EBITDA for the Year

Music Broadcast Limited (MBL), India’s 1^st Private FM Radio Broadcaster, has reported its Audited Financial Results for the Quarter and Year ended March 31^st, 2023.

Key Highlights – FY23:

• 
  FY23 Top line of Rs 198.9 Crores; 18% Growth YoY

• 
  Maintained a powerful Position with 20% Volume Market Share

• 
  EBITDA* at Rs. 42.8 Crores; 54% Growth YoY

• 
  EBIDTA Margin at 21.5%

*Includes different revenue

Key Highlights – Q4FY23:

• 
  This fall FY23 Top line of Rs 51.4 Crores; 12% Growth YoY

• 
  Maintained a powerful Position with 20% Volume Market Share

• 
  EBITDA* at Rs. 10.6 Crores; 73% Growth YoY

• 
  EBIDTA Margin at 20.6%

*Includes different revenue

Commenting on the outcomes Mr. Shailesh Gupta, Director stated,“I’m happy to report that on a year-on-year foundation, our firm’s revenues grew by 18% whereas EBITDA noticed a considerable enhance of 54%. Our acutely aware efforts over the previous few years to scale back prices have paid off, permitting us to benefit from higher working leverage, which has led to quicker rise in profitability.

During the quarter ended, our market share elevated to twenty%, up from 19% in the earlier quarter and 18% at the begin of the yr. We have a powerful omni-channel presence, which permits us to leverage our huge networks and present most worth to our shoppers.

This yr, I’m glad to report that, as projected beforehand that Digital will make up a sizeable chunk of whole income and considerably contribute to progress, the digital gross sales share elevated to eight% in FY23 from 5.8% in FY22 and 1.7% pre-COVID. We have established the proper foundations through the use of our inside experience to supply high-quality content material and enhance viewers engagement. This is according to our ‘Radigitalization‘ technique, which focuses on radio-centric digital linkages.

In phrases of sectoral advert spending, the core sector of actual property witnessed 35% yr on yr progress. Finance and the pharmaceutical sector each grew by 19% and 32%, respectively. While the auto sector witnessed a nominal progress of three% over the earlier yr, the meals and comfortable drinks sectors noticed a decline. The authorities sector expanded by 11% yr on yr.

In March ’23, stock utilisation reached a report excessive of 90%. Comparing FY23 to FY22 and pre-covid ranges, stock utilisation elevated to 63% from 61% and 56%, respectively. This is a wholesome signal and gives a way of optimism for greater utilization in the instances to return.

According to its elementary philosophy of sustaining a powerful liquidity place as a warfare chest to climate any storm and seize new alternatives, as of March 31, 2023, the money reserves of the firm stood at Rs. 295 crores.

I’m delighted to announce that Radio City has received 19 accolades at the prestigious ‘ACEF Global Customer Engagement Forum & Awards 2023’, in addition to 18 distinguished awards at the ‘E4M Golden Mikes – Radio & Audio Awards‘. This is a credit score to the originality and innovation we offer, however it additionally validates the monumental efforts made by our expert staff to make an excellent distinction in the lives of our customers, who embrace listeners and advertisers.

With regards to the bonus challenge of the non-convertible non-cumulative redeemable choice shares (“NCRPS”), the Company obtained buying and selling approvals from NSE & BSE and the similar is open for buying and selling w.e.f April 20, 2023.”

About Radio City

Radio City, part of Music Broadcast Limited (MBL) is a subsidiary of Jagran Prakashan Ltd. Being the first FM radio broadcaster in India with over 20 years of experience in the radio business, Radio City has persistently been the No.1 radio station in Bengaluru with 25.2% and No.2 in Mumbai with 14.3% common listenership share respectively. (Source: RAM Data, TG: 12+ Period: Week 1, 2013 to Week 52, 2022). Radio City Delhi ranks #3 with 11.7% common listenership share (Source: RAM Data, TG: 12+ Period: Week 1, 2019 to Week 52, 2022).

Music Broadcast Limited presently has 39 stations throughout 12 states, comprising 62% of the nation’s FM inhabitants. Radio City reaches out to over 69 million listeners throughout India lined by AZ Research 2019 (Source: AZ Research Report). The community gives terrestrial programming by means of its digital interface, www.radiocity.in.

Radio City has spearheaded the evolution of FM radio by providing content material that’s distinctive, path-breaking and invokes metropolis ardour amongst listeners with its model philosophy of “Rag Rag Mein Daude City”. The community launched humour and the idea of agony aunt on radio with Babber Sher and Love Guru respectively. It additionally initiated Radio City Freedom Awards, a platform to acknowledge impartial music and offered a launch pad to budding singers with Radio City Super Singer, the first singing expertise hunt on radio for fourteen years. In 2022, the group launched its first worldwide property ‘Radio City Business Titans’ to acknowledge Indian companies for their unwavering enterprise excellence.

Radio City has bagged over 150 awards throughout famend nationwide and worldwide platforms equivalent to New York Festivals Radio Awards, ACEF Global Customer Engagement Forum & Awards, Golden Mikes – Radio & Audio Awards, India Audio Summit and Awards, India Radio Forum, and so forth. in the current previous. In 2022, Music Broadcast Limited received ‘India’s Best Company of the Year 2022’ Award by Berkshire media. Radio City has been persistently featured for the seventh time in ‘India’s Best Companies to Work For’ examine carried out by Great Place to Work Institute. The firm has additionally been acknowledged in ‘India’s Best Workplaces for Women – 2019’ and has ranked amongst the Top 75 organizations on the record. In 2020, Radio City ranked 4th in ‘Best Large Workplaces in Asia’, based on the GPTW survey.

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