Reports consolidated EBITDA of RS 0.9 crore on consolidated total income of Rs 61.1 crore, an increase of 26 per cent y-o-y
BestMediaInfo Bureau | Mumbai | August 6, 2013
Reliance Broadcast Network Limited (RBNL) yesterday announced its financial results for the quarter ended June 30, 2013 (Q1 FY14). The company reported strong performance, achieving operating breakeven, with consolidated total income of Rs 61.1 crore, an increase of 26 per cent y-o-y, and consolidated EBITDA of Rs 0.9 crore.
RBNL reported a 31 per cent increase in revenues for radio at Rs 47.3 crore in Q1 FY14 and stands to gain from the impending phase III auctions, which will see private FM radio expand to 294 additional cities. The radio EBIT is at Rs 8.7 crore.
The television business delivered strong performance clocking 37 per cent y-o-y growth with revenues at Rs 8.4 crore. The companyâs flagship general entertainment channel, Big Magic, which emerged a leader in the Hindi heartland, has steadily expanded distribution across the Hindi speaking markets, benefiting from phase II of digitisation. TRAIâs mandate to regulate advertisement inventory to 10 minutes per clock hour will translate into more equitable distribution of advertisement inventory across channels, resulting in increased advertisement flow to both radio and emerging channels like Big Magic, Big CBS and Big RTL Thrill.
Tarun Katial, CEO, Reliance Broadcast Network, said, âReliance Broadcast Network has delivered robust performance, breaking even at the operating level. Radio has delivered the highest ever Q1 performance fortifying its position as the leading national network and both key businesses of radio and television are primed to benefit from the impending government reforms.âOwn BestMediaInfo Android app for fastest updates and breaking news.Â Click hereÂ to download for free.