Radio Mirchi's after-tax profit up 50% in the second quarter

MUMBAI: Entertainment Network (India), the operator of the first FM radio station in India, Radio Mirchi, announced Friday its results for the quarter ended September 30, 2018.

The company recorded a total turnover of 122.5 billion rupees during the quarter, compared to 125.3 million rupees in the second quarter of the year 18. Reported earnings before interest , taxes and amortization (EBITDA) in the quarter was Rs. 27.3 billion, down 3.9%, but the underlying ebitda is higher. Profit after tax (PAT) increased by 50.2% to Rs 8.9 billion for the quarter ending September 2018.

Prashant Panday, CEO of ENIL®, said: "A 50% increase in PAT, a growth in single-digit radio, higher margins in non-CTF activities, increased profitability in wireless stations. phase 3, Bryan Adams' concert promises a strong performance in the second quarter. The slight decrease in reported revenues is entirely attributable to the shift from the festival season to the third quarter. We expect the third quarter to represent a quarter of solid growth. "