Radio City Delivers a Strong EBITDA Growth Led by Operating Leverage
4 min readMusic Broadcast Limited (MBL), India’s 1st Private FM Radio Broadcaster, has reported its Financial Results for the quarter ended June 30th, 2022.
Key Highlights – Q1 FY23
Maintained a robust Position with 18% Volume Market Share
Q1 FY23 Top line of Rs 44.1 Crores; 116% Growth YoY
EBITDA* at Rs. 8.8 Crores; EBITDA Margin at 19.8%
*Includes different revenue
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Radio City
Commenting on the outcomes Mr. Shailesh Gupta, Director mentioned, “As per business reviews, the promoting volumes have returned in a massive approach, which when coupled with the opening up of the nation, is a main tailwind for our enterprise. We have been resilient as a company via the powerful instances and risen to the problem by evolving as a firm and offering omni-channel choices to align with altering buyer preferences and media consumption patterns.
The restoration in Radio Adex, was seen throughout all the most important sectors, which even when on a low base have risen phenomenally and augur nicely for the business. With Real Estate and Electricals rising by over 300% and robust development in different core sectors reminiscent of Pharma, Auto and FMCG, we’re extraordinarily optimistic of the expansion trajectory that lies forward, particularly with the festive season upcoming across the nook and a number of sporting occasions and product launches lined up.
Our adoption of the ‘Radigitalization‘ technique i.e., digital integrations with Radio at its core, has paid off nicely for us and we see the advantages accruing additional and sustaining over time. Traditional and OTT mediums are additionally feeding off this differentiated providing and attain by tapping into our sources and model options, as shoppers in search of glorious content material on digital platforms, are anticipated to attract extra companies to reap the benefits of the convergence of radio and digital.
With 32 % of the income this quarter coming from new income initiatives, they’ve began to make up a sizeable portion of our complete prime line and present each promise of being sustainable and persevering with to gasoline constant development going ahead. With money reserves at Rs. 273 crores as of June 30, 2022, the agency has remained loyal to its core values of conserving a stable liquidity place as a struggle chest to climate any storm and seize new potentialities.
Regarding the bonus problem of the non-convertible non-cumulative redeemable choice 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 authorised the scheme and thereafter the Company has filed the petition with NCLT for additional plan of action. We will preserve 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 20 years 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 at the moment 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 coated by AZ Research 2019 (Source: AZ Research Report). The community gives terrestrial programming together with 17 web-stations, 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“. 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 primary singing expertise hunt on radio.
Radio City has bagged over 110 awards throughout nationwide and worldwide platforms reminiscent of New York Festival, ACEF Awards, Golden Mikes Radio Advertising Awards, India Radio Forum, and many others. within the current previous. Radio City has constantly featured for the seventh time in ‘India’s Best Companies to Work For‘ research 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 checklist. In 2020, Radio City ranked 4th in ‘Best Large Workplaces in Asia’, in response to the GPTW survey.
Safe Harbor Statement
Statements on this doc regarding future standing, occasions, or circumstances, together with however not restricted to statements about plans and goals, 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 creating 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 mirror precise outcomes, modified assumptions or different components.
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