Growth driven by strong profit making performance by radio business with revenue of Rs 57 cr
BestMediaInfo Bureau | Delhi | November 11, 2011
Reliance Broadcast Network Ltd. (RBNL), Indiaâs youngest multimedia entertainment conglomerate with play across the businesses of radio, television, out of home, intellectual property and television production, closed the quarter ending September 2011 with consolidated revenues of Rs 75.6 crore, up 30 per cent y-o-y.
The radio business delivered strong growth in PAT at Rs 12 crore against Rs 3.2 crore in the same quarter previous fiscal. Radio revenues at Rs 57.1 crore showed a y-o-y growth of 48 per cent despite a subdued seasonal quarter.
The television broadcast business reported revenues of Rs 3.8 crore. The TV business comprises Big CBS Prime, Big CBS Love and Big Magic channels.
Commenting on the performance, Tarun Katial, Chief Executive Officer, RBNL, said, âWe are happy to report another quarter of robust PAT performance in our radio business despite seasonal challenges. The radio business continued its strong growth trajectory and we look forward to the opportunities from Phase III. Our television channels continue to remain leaders in their respective genres and will be key beneficiaries post digitisation, given the sharp uptake potential in subscription revenues and significant reduction in carriage costs. All our businesses are at an inflection point and poised for incremental growth. We expect this momentum to continue on the back of the buoyant festive season as we continue to deliver value to our stakeholders.â