All businesses excluding TV remain EBIT positive. Highest ever revenues for radio at Rs 51.7 crore
BestMediaInfo Bureau | Mumbai | February 11, 2013
Reliance Broadcast Network Ltd, a Reliance ADAG Group company, has announced its unaudited financial results for the third quarter ended December 31, 2012.Â The company reported total income of Rs 73.2 crore, an increase of 34 per cent Q-o-Q. It also reported the highest ever revenues for radio at Rs 51.7 crore, an increase of 32 per cent Q-o-Q, and 8 per cent Y-o-Y.
The companyâs television business also delivered healthy growth with revenue at Rs 11.7 crore. The operating loss of the TV business reduced to Rs 13.3 crore, a 28 per cent drop Y-o-Y.
Q3 radio EBITDA was at Rs 12.2 crore, an increase of 84 per cent Q-o-Q. All businesses excluding TV remain EBIT positive at Rs 4.8 crore.
Both radio and television businesses consolidated their leadership positions delivering robust revenue growth and tight control over costs.
Commenting on the performance, Tarun Katial, CEO, Reliance Broadcast Network Ltd, said, âReliance Broadcast has delivered impressive results in both radio and television businesses, with radio recording its highest ever revenue quarter. The television business has reported significant growth in revenue and reduction in carriage, reaping benefits from digitisation, and a well crafted business strategy. We are on track to deliver improved margins, and build reach and value in the long term.â