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MUMBAI: Entertainment Network (India) Ltd, or ENIL, has reported a revenue of Rs 116.3 crore for the third quarter ended December 2022. This is 17.6% higher than the Rs 98.9-crore revenue for the same quarter of the previous year.
The operator of India’s No.1 FM radio channel, Mirchi, said the expansion was driven mainly by strong growth in non-FCT (free commercial time) revenues. Traditional media has been facing headwinds leading to de-growth of radio volumes but, despite that, volumes grew 15.8% year on year (YoY).
The company’s overall standalone PBT for the quarter was Rs 7.6 crore and profit after tax stood at Rs 5.8 crore. ENIL’s balance sheet remains strong with cash reserves of Rs 227 crore as on December 31, 2022.
ENIL CEO Yatish Mehrishi said, “I am pleased we registered a strong top line growth despite macroeconomic headwinds, which dampened advertising demand across the media industry. We have gained more than 3% market share in the last one year.”
The operator of India’s No.1 FM radio channel, Mirchi, said the expansion was driven mainly by strong growth in non-FCT (free commercial time) revenues. Traditional media has been facing headwinds leading to de-growth of radio volumes but, despite that, volumes grew 15.8% year on year (YoY).
The company’s overall standalone PBT for the quarter was Rs 7.6 crore and profit after tax stood at Rs 5.8 crore. ENIL’s balance sheet remains strong with cash reserves of Rs 227 crore as on December 31, 2022.
ENIL CEO Yatish Mehrishi said, “I am pleased we registered a strong top line growth despite macroeconomic headwinds, which dampened advertising demand across the media industry. We have gained more than 3% market share in the last one year.”
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