Music Broadcast Limited (MBL), India’s 1st Private FM Radio Broadcaster, has reported its Financial Results for the quarter and nine-months ended December 31st, 2022.
-
Key Highlights – 9M FY23:
-
9M FY23 Top line of Rs. 147.5 Crores; 20% Growth YoY
-
Maintained a robust Position with 19% Volume Market Share
-
EBITDA* at Rs. 32.2 Crores; EBITDA Margin at 21.8%
*Includes different revenue
-
Key Highlights – Q3 FY23:
-
Q3 FY23 Top line of Rs 54.7 Crores; 12% Growth QoQ
-
Maintained a robust Position with 19% Volume Market Share
-
EBITDA* at Rs. 14.5 Crores; EBITDA Margin at 26.6%
*Includes different revenue
Commenting on the outcomes Mr. Shailesh Gupta, Director stated, “We are happy to report wholesome development in EBITDA QoQ, with margins bettering to 26.6% in Q3 FY 2023 in comparison with 18.3% in Q2 FY 2023.
As per a current analysis report – 8 in 10 are listening to Radio in Tier-II and Tier-III cities, which being our key development market, offers a motive to be optimistic in regards to the effectiveness and development of our medium. In phrases of market share, we stand at 19% as towards 18% final quarter and having established a robust omni-channel presence we’re in a great spot to leverage our deep networks and relationships and supply most worth to our prospects.
In phrases of sectoral advert spending, the core sector of actual property continued to indicate promise, whereas the auto trade made a robust comeback. Pharma, which makes up a sizeable share of the entire volumes, additionally skilled important rise. Finance, together with the sector of meals and mushy drinks, noticed a degrowth that slowed the expected development trajectory. The Government sector continues to say no and shrank considerably, however we’re optimistic that it’s going to rebound in mild of the upcoming elections.
On the digital entrance, owing to our sturdy presence in addition to attain throughout a number of platforms and by leveraging our unimaginable in-house expertise to ship top quality content material and construct higher engagement with our audiences, now we have set the suitable foundations. This is in step with our ‘Radigitalization‘ technique i.e., targeted on digital integrations with Radio at its core. Digital revenues accounted for 8% contribution to the topline and have a big headway for development going ahead.
With new income efforts making up 31% of income this quarter, they’ve began to account for a good portion of our total prime line and present each signal of being sustainable going ahead. As of December 31, 2022, the corporate has money reserves totaling Rs. 288 crores, in accordance with its elementary philosophy of sustaining a robust liquidity place as a warfare chest to climate any storm and seize new alternatives.
With regards to the bonus difficulty of the non-convertible non-cumulative redeemable desire shares (“NCRPS“), the scheme was permitted by the Hon’ble NCLT on 23rd December 2022. The Company had mounted the file date as thirteenth of January 2023 to find out the eligible non-promoter fairness shareholders to obtain Bonus NCRPS. The Bonus Committee has allotted the NCRPS to the eligible shareholders on nineteenth January, 2023. As per the phrases of the scheme, the shares will probably be listed at each the inventory exchanges and will probably be readily tradable. Further, the NCRPS shall be redeemed on the value of Rs. 120 per NCRPS after the interval of 36 months from the date of allotment.”
About Radio City
Radio City, 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 of experience within the radio trade, Radio City has persistently 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+ (*64*): Week 1, 2013 to Week 26, 2022). Radio City Delhi ranks #3 with 11.9% common listenership share (Source: RAM Data, TG: 12+ (*64*): 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 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 impartial music and offered a launch pad to budding singers with Radio City Super Singer, the primary 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 his or her unwavering enterprise excellence.
Radio City has bagged over 130 awards throughout nationwide and worldwide platforms corresponding to New York Festival, ACEF Awards, Golden Mikes Radio Advertising Awards, India Radio Forum, and so on. within the current previous. Recently, Music Broadcast Limited has received ‘Indias Best Company of the Year 2022‘ Award by Berkshire media. Radio City has persistently 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 listing. In 2020, Radio City ranked 4th in ‘Best Large Workplaces in Asia‘, in accordance with the GPTW survey.
Safe Harbor Statement
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 based mostly 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 usually are 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.
Mumbai, 12th April 2024: Indian Renewable Energy Development Agency Ltd. (IREDA) on the event of “Public Sector Day” hosted a outstanding gathering at the moment, bringing collectively its predecessors and superannuated staff in a particular occasion geared toward celebrating the group’s legacy and projecting a path ahead for continued success. The occasion witnessed enthusiastic participation from a lot of the superannuated staff, together with former CMDs and Directors, who assembled to reminisce and share invaluable insights for the longer term trajectory of the corporate.
Barbeque Nation at Sayaji Hotel, Kolhapur, hosts Shaam-e-Awadh Food Festival from fifth April to 14th April 2024. This culinary extravaganza guarantees its patrons a tasty journey by means of the wealthy and royal flavours of Awadhi delicacies.
