Radio Mirchi Q4 FY16 income up 18%; full year revenues cross Rs 500 cr

Entertainment Network (India) Ltd, the operator of FM radio channel Radio Mirchi, posted a growth of 18.3 per cent in its total income for the quarter ended March 31, 2016 at Rs 147.2 crore, compared to Rs 124.4 crore in Q4 FY15.

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) stood at Rs 38.5 crore, an increase of 11.5 per cent. The company reported Profit After Tax (PAT) of Rs 20.1 crore for Q4 FY16, a decline from Rs 25.5 crore for the corresponding period of the previous fiscal.

For the full financial year, total income grew 16 per cent to Rs 508.6 crore, as against Rs 438.5 crore in FY15. The company reported a net profit of Rs 100.0
crore. EBITDA grew by 9.7 to Rs 159.4 crore.

As is known, ENIL won 17 stations in the Phase 3 FM auctions and has launched Bengaluru, Guwahati and Kochi stations. Bengaluru is Mirchi’s first launch in the second frequencies network.

Commenting on the results, Prashant Panday, Managing Director and Chief
Executive Offer, ENIL, said, “Rs 500 crore is an important milestone in any media company’s life and I am happy we’ve crossed that. We’re now working on launching our second channel in every major city in the country, as well as entering new markets like Chandigarh, Kochi and Guwahati for the first time with brand Mirchi. We look forward to a very exciting next five years.”

ENIL has also informed BSE that the Board of Directors of the company at its meeting held on May 18, 2016, recommended a dividend of Re 1.00 per equity share of Rs 10 each, aggregating to Rs 573.75 lakh, including Dividend Distribution Tax of Rs 97.05 lakh for the year ended March 31, 2016. The payment is subject to the approval of the shareholders at the ensuing Annual General Meeting.