Radio City Delivers 20% Growth in Revenues and 45% Growth in EBITDA for Q1FY24 Over Q1FY23
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Music Broadcast Limited (MBL), India’s 1st Private FM Radio Broadcaster, has reported its un-audited Financial Results for the Quarter ended June 30th, 2023.
Key Highlights – Q1FY24:
Q1FY24 Top line of Rs 53.0 Crores; 20% Growth YoY
Maintained a robust Position with 19% Volume Market Share
EBITDA* at Rs. 12.7 Crores; 45% Growth YoY
EBIDTA Margin at 24.0%
*Includes different revenue
Commenting on the outcomes Mr. Shailesh Gupta, Director mentioned,“I’m delighted to report that our income has grown by 20% year-over-year and EBIDTA progress is 45%, ensuing in an enchancment of 420 foundation factors in working margins. The enlargement in margin was the results of our efforts to scale back prices over the previous few years coupled with topline progress, which led to higher working leverage.
We are capable of maximise the worth we provide to prospects by leveraging our omnichannel presence and advertising to faucet into the facility of our in depth community. The actual property business skilled a 24% year-over-year improve in promoting expenditures. The pharmaceutical market expanded by 4%. The training business made a turnaround and posted the best progress price of 87%. The auto business grew by 58% in comparability to the earlier yr. The sectors of electronics and home equipment and meals and comfortable drinks grew by 10% and 24%, respectively.
During the quarter, the digital enterprise grew by 33% over Q1FY23. By utilising our in-house information and experience, now we have paved the best way for the creation of high-quality content material and elevated viewers engagement. This is in line with our “Radigitalization” technique, which emphasises radio-centric digital connections.
We are capable of generate 38% of our income from created companies resembling properties, proactive pitches, digital, sponsorship and particular days, and now we have the second highest shopper depend share in the business with 41% in Q1FY24.
Our liquidity place continues to stay robust. As of June 30, 2023, the money reserves of the corporate stood at Rs. 302 crores.”
About Radio City
Radio City, part of Music Broadcast Limited (MBL) is a subsidiary of Jagran Prakashan Ltd. Being the primary personal FM radio broadcaster in India with over twenty years of experience in the radio business, Radio City has constantly 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).
Radio City has established a robust presence throughout 39 stations in 12 states and 1 Union Territory, comprising 62% of the nation’s FM inhabitants. Radio City reaches out to over 69 million listeners throughout India coated by AZ Research 2019 (Source: AZ Research Report). The community gives terrestrial programming via 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”. With the latest launch of its new station sound #CityKiNayiVibe, a contemporary model of Rag Rag Mein Daude City, Radio City goals to have interaction with the younger and vivacious Gen Z viewers who sought coolness quotient in their experiences. The community’s humour based mostly IPs ‘Babber Sher’, ‘Joke Studio’ and the IP ‘Love Guru’ with an idea of affection, relationships and romantic endeavours are immensely revered by the viewers. In 2013, the radio station launched Radio City Freedom Awards, a platform to acknowledge impartial music and the main FM station gives a launch pad to budding singers with Radio City Super Singer, the primary singing expertise hunt on radio because the final fourteen years. In 2022, the group launched its pioneering 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 resembling 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 many others. in the latest previous. In 2022, Music Broadcast Limited gained ‘India’s Best Company of the Year 2022’ Award by Berkshire media. Radio City has been constantly featured for the seventh time in ‘India’s Best Companies to Work For’ research performed 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 listing. In 2020, Radio City ranked 4th in ‘Best Large Workplaces in Asia’, in response to the GPTW survey.
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Statements in this doc regarding future standing, occasions, or circumstances, together with however not restricted to statements about plans and aims, the progress and outcomes of analysis and growth, potential product traits and makes use of, product gross sales potential and goal dates for product launch are forward-looking statements based mostly on estimates and the anticipated results of future occasions on present and creating circumstances Such statements are topic to quite a few dangers and uncertainties and are usually not essentially predictive of future outcomes. Actual outcomes might differ materially from these anticipated in the forward-looking statements. The firm assumes no obligation to replace forward-looking statements to replicate precise outcomes, modified assumptions or different elements.
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