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Radio City returns to profitability & sustains the highest market share at 20%

Posted On: 2021-10-22 14:51:04 (Time Zone: IST)

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, 2021.

Key Highlights -Q2 FY22:

- Maintained Leadership Position with 20% Volume Market Share
- Q2 FY22 Top line of Rs 42.0 Crores; 40% Growth YoY
- EBITDA* at Rs. 9.4 Crores; EBIDTA Margin at 22.4%
- PAT at Rs. 0.3 Crores
*Includes other income

Key Highlights - H1 FY22:

- Maintained Leadership Position with 21% Volume Market Share
- H1 FY22 Top line of Rs 62.5 Crores; 41% Growth YoY
- Achieved EBIDTA* Break-even
*Includes other income

Commenting on the results Mr. Shailesh Gupta, Director said: "Stepping into the festive season, while still keeping a cautious approach towards tackling Covid-19, it makes me immensely happy to say that the company has been able to deliver emphatically. Showing a significant jump in the topline, both sequentially and on a Y-o-Y basis, the company has delivered an EBIDTA Margin of 22.4% and has turned around at PAT level.

With the country opening up, advertising spends coming back gradually, multiple international sporting events, widespread product launches across sectors and resumption of movie screenings, the industry has received a fresh dose of enthusiasm and vigour. This when combined with the omni-channel strategy and the digital integration approach, gives the company the much-needed flexibility and security to manoeuvre through these fast changing and transformative times.

The cost saving initiatives put in place in the previous years have yielded fruitful results translating into a healthier bottom line and enhancing the operational efficiency. In addition to this, keeping in line with the company's rationale of maintaining a strong liquidity position, for tackling uncertainties, the cash reserves have been maintained at Rs. 245 Crores as on 30th September as compared to Rs. 236 crores as on 31st March 2021. Regarding the bonus issue of the non-convertible non-cumulative preference shares, SEBI has accorded its approval and we have filed the scheme with NCLT and are awaiting final approval from them."

Shares of Music Broadcast Limited was last trading in BSE at Rs. 24.90 as compared to the previous close of Rs. 24.90. The total number of shares traded during the day was 18371 in over 173 trades.

The stock hit an intraday high of Rs. 25.50 and intraday low of 24.65. The net turnover during the day was Rs. 462938.00.

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