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Stock Report
ENIL reports strong revenue performance in 4th quarter, despite Covid impact
Posted On : 2020-06-19 22:17:28( TIMEZONE : IST )
Entertainment Network (India) Ltd, the operator of India's #1 FM radio channel Radio Mirchi, today announced results for the 4th quarter & year ended March 31, 2020.
The Company posted a total revenue of Rs. 149.4 crores during the quarter, a de-growth of 14.8% compared to Q4FY19 of which 9% was on account of Covid. FY20 revenue was Rs.540.6 crores, a de-growth of 12.9% of which 2.6% was on account of Covid.
Underlying EBITDA for the quarter stood at Rs 13.6 crores and at Rs.88.6 crores for the full year, falling largely due to Covid impact of Rs.13.7 crores. Reported EBITDA - post impact of Ind AS 116 - degrew by 69% to reach Rs.22.5 crores during the quarter and Rs.123.5 crores for the full year.
PAT for the year was lower at Rs.14.6 crores and the loss for the quarter was Rs. 2.2 crores due to the combined impact of Covid & IND AS 116.
The Board has recommended a dividend of Re.1 per equity share of Rs. 10 each for the financial year 2019-20, at its Board meeting held on June 19, 2020.
Commenting on the results, Mr. Prashant Panday, MD & CEO, ENIL, said: While it has been a disappointing quarter for all media companies and for Mirchi as well, I am delighted that we have grown stronger in so many ways. Our revenue market share has grown by nearly 650 basis points over the last two years. Radio listenership in the top cities has grown by 55% and the time spent on it by 109% during the lockdown. We remain #1 in listenership. Our solutions business has seen improvement in profitability. We generated around Rs 60 crores of cash during the quarter, and had Rs 227 crores in the bank as on March 31, 2020, a major strength during this crisis. While FY21 will remain challenging, strong brands like ours will gain when the market bounces back".
Shares of ENTERTAINMENT NETWORK (INDIA) LTD. was last trading in BSE at Rs.152.75 as compared to the previous close of Rs. 147.5. The total number of shares traded during the day was 1675 in over 101 trades.
The stock hit an intraday high of Rs. 154.8 and intraday low of 148. The net turnover during the day was Rs. 255027.
