Radio Mirchi publishes ebitda of Rs 40cr in the third quarter

MUMBAI: (India), the operator of the No. of India. 1 FM radio channel Mirchi Radio, announced on Friday the results of the quarter ended December 31, 2019. The company recorded a total income of Rs 145.7 crore during the quarter, a decrease of 15% in a similar way (without concerts with international artists)

Underlying earnings before interest, tax , depreciation and amortisation (ebitda) de-grew 21.5% to Rs 31.7 crore, but reported ebitda — after impact of the Ind-AS 116 accounting standard — grew 0.2% to reach Rs 40.4 crore. Profit after tax , at Rs 10.6 crore, improved from last quarter, but was lower compared to the year-ago period.

Commenting on the results, ENIL MD&CEO said: “Possibly in the worst quarter of the last 10 years, our radio revenues fell by 19%, in line with the results of all major radio and television companies. Our buzz solutions business endured adverse economic conditions and reported only a small drop in revenue. Our participation in the revenue market improved, our solution margins improved and our digital revenues soared.