Music Broadcast Lts has Strong Balance Sheet with cash reserves of Rs. 220 Crores

Music Broadcast Limited (MBL), India's 1st Private FM Radio Broadcaster, has reported its Financial Results for the Quarter and Year ended March 31st, 2020.

Key Highlights - Q4 FY20:

- Top line of Rs 45.9 Crores
- EBITDA* at Rs. 4.2 Crores
- Reported PAT was Rs (8.9) Crores

Key Highlights - FY20:

- Revenue was Rs 247.8 Crores
- EBITDA* was Rs 66.6 Crores
- Reported PAT was Rs 28.2 Crores
* Excluding One-time expenses of Rs 9.5 Crores

Commenting on the results Ms. Apurva Purohit, Director said: "The lockdown imposed to control the COVID-19 pandemic coupled with a weak economy has had an adverse impact on the overall demand environment across all industries which in turn has effected the advertising industry severely.

I am pleased to share that according to an independent survey commissioned by the Association of Radio Operators for India (AROI) on Impact of media consumption during COVID-19, Radio listenership has increased from 48 million to reach 51 million second only to TV reach of 56 million and the average time spent listening to Radio has grown by 30 minutes or 23% in Urban India from 2 hours and 7 minutes to 2 hours and 36 minutes. The survey also re-iterated our belief that when it comesto credibility of information ,Radio is considered one of the most reliable sources of information. As a responsible corporate citizen and media player, we have been assisting Government authorities in their fight against COVID-19 by communicating all central and state government policies and urging our listeners to stay safe by sharing best practices with them.

On the operational front, we were able to seamlessly transition our operations from "Studio" to "Work from Home" throughout these difficult times because of our strong backend technology. Our focus on prudent operations and emphasis on liquidity is visible in the debt-free balance sheet of the company, along with strong cash reserves of Rs. 220 Crores which will help us weather these tough times and remain resilient through the period of recovery."

Shares of Music Broadcast Ltd was last trading in BSE at Rs.12.98 as compared to the previous close of Rs. 13.18. The total number of shares traded during the day was 8850 in over 57 trades.

The stock hit an intraday high of Rs. 13.33 and intraday low of 12.92. The net turnover during the day was Rs. 115296.

Source : Equity Bulls

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