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Radio City Delivers a Strong EBITDA Growth Led by Operating Leverage

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Music Broadcast Limited (MBL), India’s 1st Private FM Radio Broadcaster, has reported its Financial Results for the quarter and half-year ended September 30th, 2022.

  • Key Highlights – H1FY23:

  • H1 FY23 Top line of Rs 92.8 Crores; 48% Growth YoY

  • Maintained a robust Position with 18% Volume Market Share

  • EBITDA* at Rs. 17.6 Crores; EBIDTA Margin at 19.0%

*Includes different revenue

  • Key Highlights – Q2FY23:

  • Q2 FY23 Top line of Rs 48.6 Crores; 16% Growth YoY

  • Maintained a robust Position with 18% Volume Market Share

  • EBITDA* at Rs. 8.9 Crores; EBIDTA Margin at 18.3%

*Includes different revenue

Commenting on the outcomes Mr. Shailesh Gupta, Director mentioned, “The return of promoting volumes witnessed during the last quarter continued within the present quarter as effectively, with the business rising by 20% YoY. Our resilience by way of the robust occasions has paid off, as we stand on a robust footing each when it comes to market share and a robust omni-channel presence which helps us leverage our deep networks and relationships and provide most worth to our clients. In line with our steerage over the quarters, a few of the prices saved had been everlasting in nature, nonetheless, some business-related prices have come again as a results of resumption in regular course of enterprise, which have led to slight discount in EBITDA Margins.

On a sectoral stage, the core sectors of Real Estate and Pharma continued to indicate promise, whereas Education got here again in a huge manner. Finance too contributed a good portion of the overall volumes. Government and Auto had been the laggards through the quarter, degrowing marginally, nonetheless, we do count on to see that flip round within the subsequent quarter owing to imminent elections and the festive season spending.

On the digital entrance, we now have achieved substantial development, owing to our robust presence and attain throughout a number of platforms and leveraging our unimaginable in-house expertise to ship top quality content material and higher engagement with our audiences. This is in step with our ‘Radigitalization‘ technique i.e., digital integrations with Radio at its core, and we see sustainable advantages accruing over time.

With new income efforts accounting for 35% of income this quarter, they’ve begun to signify a sizable part of our general prime line and exhibit each indication of being sustainable and persevering with to assist regular development shifting ahead. As of September 30, 2022, the corporate has money reserves totaling Rs. 284 crores, staying true to its fundamental ideas of sustaining a robust liquidity place as a warfare chest to climate any storm and grasp new alternatives.

Regarding the bonus subject of the non-convertible non-cumulative redeemable desire shares, the assembly of the Equity Shareholders and Unsecured Creditors of the Company was held on Thursday, June 23, 2022, whereby the Shareholders and Unsecured Creditors have authorized the scheme and thereafter the Company has filed the petition with NCLT for additional plan of action. We will hold you posted on the developments as they unfold.”

About Radio City

Radio City, a a part of Music Broadcast Limited (MBL) is a subsidiary of Jagran Prakashan Ltd. Being the primary FM radio broadcaster in India with over twenty years of experience within the radio business, Radio City has constantly been the No.1 radio station in Bengaluru with 25.1% and No.2 in Mumbai with 14.6% common listenership share respectively. (Source: RAM Data, TG: 12+ Period: Week 1, 2013 to Week 26, 2022). Radio City Delhi ranks #3 with 11.9% common listenership share (Source: RAM Data, TG: 12+ Period: Week 1, 2019 to Week 26, 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 supplies terrestrial programming together with 17 web-stations, by way 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 unbiased music and supplied a launch pad to budding singers with Radio City Super Singer, the primary singing expertise hunt on radio. This yr, the group launched its first worldwide property ‘Radio City Business Titans‘ to acknowledge Indian companies for his or her enterprise excellence.

Radio City has bagged over 130 awards throughout nationwide and worldwide platforms equivalent to New York Festival, ACEF Awards, Golden Mikes Radio Advertising Awards, India Radio Forum, and so on. within the latest previous. Recently, Music Broadcast Limited has acquired ‘Indias Best Company of the Year 2022‘ Award by Berkshire media. Radio City has 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 line with the GPTW survey.

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Statements on this doc referring to future standing, occasions, or circumstances, together with however not restricted to statements about plans and aims, the progress and outcomes of analysis and improvement, potential product traits and makes use of, product gross sales potential and goal dates for product launch are forward-looking statements primarily based on estimates and the anticipated results of future occasions on present and growing circumstances Such statements are topic to quite a few dangers and uncertainties and are usually not essentially predictive of future outcomes. Actual outcomes could differ materially from these anticipated within 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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