Entertainment Network (India) Ltd, the operator of India’s #1 FM radio channel Radio Mirchi, has introduced outcomes for the 4th quarter & 12 months ended thirty first March, 2021.
The Firm reported 17.2% sequential progress in revenues, which amounted to Rs99cr in This autumn. The leap was pushed by the Answer enterprise which grew 76.7% sequentially.
In comparison with the 12 months in the past, revenues have been down 33.7 % on account of Covid. FY21 income was Rs266.8cr.
The Firm’s price chopping initiatives proceed to yield financial savings with different working prices (together with occasion associated DVCs) down by 39.0% over the identical quarter final 12 months. FY21 general price together with DVC lowered by 37.4% over final 12 months.
The Firm has reported EBITDA of Rs24.0cr for the quarter and Rs16.3cr for full 12 months. Stability sheet stays robust with money reserves of Rs218.3cr as on March 31, 2021.
The Firm’s PAT for the quarter with out distinctive merchandise was Rs.70.3 lakhs. The Firm has made an impairment provision of Rs 97.5cr in its Mirchi Love and Kool companies, due to the covid induced stress.
Core Mirchi Model continues to be robust even in these troubled occasions. Because of the impairment provision, loss for the quarter got here in at Rs65.7cr; Corresponding quantity for the total 12 months is a lack of Rs109.3cr.
The Board has advisable a dividend of Re.1 per fairness share of Rs10 every for the monetary 12 months 2020-21, at its Board assembly held on June 15, 2021.
Commenting on the outcomes, Prashant Panday, MD & CEO, ENIL, mentioned: “It was a tricky quarter, however one with a number of optimistic information. Advert volumes grew over final 12 months indicating a return of advertisers to the medium. The options enterprise turned in greater gross income than final 12 months, regardless of decrease revenues.
A really thrilling function is the share of digital revenues which grew to almost 11.5% of revenues, indicating robust traction for the corporate’s digital belongings. Working prices fell by 32%. And whereas the impairment provision is unlucky, we’ll attempt to overturn its impression because the economic system revives”.
At round 10:00 AM, Leisure Community was buying and selling at Rs186.70 apiece down by Rs17.65 or 8.64% on Sensex.