MUMBAI: Entertainment Network(India),the operator of India’s No. 1 FM radio channel Radio Mirchi, on Monday declared strong results for the quarter ended December 31, 2015.
The company’s revenue grew 22.9% to Rs 143.6 crore in the third quarter of FY16. Ebitda grew by 11.6% to Rs 49.7 crore, though underlying ebitda growth was 17.4%. Net profit stood at Rs 27 crore. Revenues for the nine months ended December 31,2015 grewby 15.1%to Rs 361.4 crore while ebitda stood atRs120.8 crore,up 9.1%.
Radio Mirchi, with Delhi International Airport (DIAL), recently launched ‘Mirchi T3’ radio at Terminal 3 of Delhi Airport. WithMirchi T3,Radio Mirchi looks to cater to a niche group of premium listeners who frequent India’s premier airport.
Prashant Panday, MD & CEO, ENIL, said: “The festive quarter has been a terrific one for us. We have grown by 23% in Q3 this year after having grown at 19% in the same quarter last year. With the roll-outs of Phase-3 stations well underway, we hope to see a rapid growth in the years to come. The next five years belong to radio.”
