Q2 FY24 Revenue from operations at Rs. 52.44 Crores, registers 8% YoY progress
Q2 FY24 Net Profit at Rs. 36.62 lakhs, up 254% YoY
Music Broadcast Limited (MBL), India’s 1st Private FM Radio Broadcaster, has reported its un-audited Financial Results for the Quarter ended September 30th, 2023.
Key Highlights – Q2FY24
Q2 FY24 Top line of Rs. 52.4 Crores; 8% Growth YoY
EBITDA* at Rs. 12.1 Crores; 36% Growth YoY
EBITDA Margin at 23.1%
Maintained a powerful Position with 19% Volume Market Share
*Includes different earnings
Commenting on the outcomes Mr. Shailesh Gupta, Director mentioned, “I’m happy to report that in Q2 and H1FY24, our revenue progress has exceeded our income progress. During this era, we achieved EBITDA margins of 23.1% in Q2 and 23.5% in H1, marking a 480 bps and 450 bps improve, respectively. These improved margins are the end result of our steady value discount initiatives over the previous few years, mixed with our income progress, resulting in enhanced operational effectivity.
At Radio City, we now have applied varied methods to boost our presence in the radio business. During the quarter ended, our market share elevated to 19%, up from 18% in the earlier quarter. We have a powerful omni-channel presence, permitting us to leverage our intensive networks and ship most worth to our shoppers.
In phrases of sectoral progress in promoting, the actual property business noticed a considerable 40% YoY improve in promoting spending. The pharmaceutical market expanded by 30%, whereas the auto business grew by a formidable 56% in comparison with the earlier 12 months. Conversely, the finance business skilled a decline of 6%. The meals and drinks sector confirmed a 21% progress, and authorities promoting elevated by 12% YoY.
We are adapting to the evolving media panorama, one that’s agnostic to platforms, with digital at the core of content material creation, distribution, consumption, and engagement. To present a seamless expertise throughout platforms, we’re enhancing our capabilities to be at the forefront of the digital expertise revolution, delivering top-notch leisure in line with the evolving preferences and wishes of our viewers. For first half of the monetary 12 months, our digital enterprise grew by 24% in comparison with H1FY23.
In H1FY24, our stock utilization stood at 73%, a major enchancment from the 56% recorded in H1FY23.
Radio City continues to be a well-liked selection for each present and new shoppers on the radio promoting platform. Out of the full shoppers on the Radio platform, 40% marketed on Radio City and amongst the brand new shoppers on the Radio platform, 35% selected to promote on Radio City.
We are proud to generate 36% of our income from diversified companies resembling properties, proactive pitches, digital ventures, sponsorships, and particular occasions. Furthermore, we now have secured the second-largest shopper depend share in the business, standing at 39% in Q2 FY24.
Our liquidity place stays sturdy. As of September 30, 2023, our firm held money reserves amounting to Rs. 305 crores.”
About Radio City
Radio City, part of Music Broadcast Limited (MBL) is a subsidiary of Jagran Prakashan Ltd. Being the primary personal FM radio broadcaster in India with over twenty years of experience in the radio business, Radio City has constantly been the No.1 radio station in Bengaluru with 25.2% and No.2 in Mumbai with 14.3% common listenership share respectively. (Source: RAM Data, TG: 12+ Period: Week 1, 2013 to Week 52, 2022). Radio City Delhi ranks #3 with 11.7% common listenership share (Source: RAM Data, TG: 12+ Period: Week 1, 2019 to Week 52, 2022).
Radio City has established a powerful presence throughout 39 stations in 12 states and 1 Union Territory, comprising 62% of the nation’s FM inhabitants. Radio City reaches out to over 69 million listeners throughout India coated by AZ Research 2019 (Source: AZ Research Report). The community supplies terrestrial programming by its digital interface, www.radiocity.in.
Radio City has spearheaded the evolution of FM radio by providing content material that’s distinctive, path-breaking and invokes metropolis ardour amongst listeners with its model philosophy of “Rag Rag Mein Daude City”. With the current launch of its new station sound #CityKiNayiVibe, a contemporary model of Rag Rag Mein Daude City, Radio City goals to interact with the younger and vivacious Gen Z viewers who sought coolness quotient in their experiences. The community’s humour based mostly IPs ‘Babber Sher’, ‘Joke Studio’ and the IP ‘Love Guru’ with an idea of affection, relationships and romantic endeavours are immensely revered by the viewers. In 2013, the radio station launched ‘Radio City Freedom Awards’, a platform to acknowledge impartial music. The main FM station supplies a launch pad to budding singers with ‘Radio City Super Singer’, the primary singing expertise hunt on radio because the final fourteen years. In 2022, the group launched its pioneering worldwide property ‘Radio City Business Titans’ to acknowledge Indian companies for his or her unwavering enterprise excellence.
Radio City has bagged over 160 awards throughout famend nationwide and worldwide platforms resembling New York Festivals Radio Awards, ACEF Global Customer Engagement Forum & Awards, Golden Mikes – Radio & Audio Awards, India Audio Summit and Awards, India Radio Forum, and so forth. in the current previous. In 2022, Music Broadcast Limited received ‘India’s Best Company of the Year 2022’ Award by Berkshire media. Radio City has been constantly featured for the seventh time in ‘India’s Best Companies to Work For’ examine performed by Great Place to Work Institute. The firm has additionally been acknowledged in ‘India’s Best Workplaces for Women – 2019’ and has ranked amongst the Top 75 organizations on the record. In 2020, Radio City ranked 4th in ‘Best Large Workplaces in Asia’, in keeping with the GPTW survey.
Safe Harbor Statement
Statements in this doc referring to future standing, occasions, or circumstances, together with however not restricted to statements about plans and targets, the progress and outcomes of analysis and growth, potential product traits and makes use of, product gross sales potential and goal dates for product launch are forward-looking statements based mostly on estimates and the anticipated results of future occasions on present and growing circumstances Such statements are topic to quite a few dangers and uncertainties and should not essentially predictive of future outcomes. Actual outcomes might differ materially from these anticipated in the forward-looking statements. The firm assumes no obligation to replace forward-looking statements to mirror precise outcomes, modified assumptions or different components.