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Next Radio (Radio One) profit before tax grows 93.3% in FY14-15

While revenue grew 11 per cent to Rs 65.43 crore in FY2014-15, EBIDTA grew 21 per cent to Rs 24.9 crore

BestMediaInfo Bureau | Delhi | May 4, 2015

Radio-One-logo-150Next Radio (Radio One), the joint venture between Next Mediaworks and BBC Worldwide, declared its Q4 and annual financials of FY2014-15 in its board meeting held on April 29, 2015.

Next Radio’s revenue grew 11 per cent to Rs 65.43 crore for FY2014-15, compared to Rs 58.97 in FY2013-14. EBIDTA grew 21 per cent to Rs 24.9 crore in the same period. Profit before tax stood at Rs 9.4 crore in FY2014-15, a growth of 93.3 per cent over Rs 4.86 crore in FY2013-14. Cash generated by the business grew 34 per cent to Rs 22.98 crore, ensuring interest costs came down due to debt retirement.

In the fourth quarter ended March 31, 2015 revenue recorded was Rs 16.73 crore, compared to Rs 15.68 crore in the corresponding quarter of FY 2013-14, a growth of 6.72 per cent. EBIDTA grew 10.72 per cent to Rs 6.3 crore in FY2014-15, as against Rs 5.69 crore in FY2013-14.

Vineet Singh Hukmani Vineet Singh Hukmani

Commenting on the performance, Vineet Singh Hukmani, MD & CEO, Next Radio (Radio One), remarked, “We continue to grow on our ‘Seven-city differentiated network’ approach. By growing our on-air and digital innovations, for which we charge a premium, and keeping our operating costs lower than the industry, we have consistently delivered an EBIDTA margin of 38 per cent. Phase III auctions and migrations are coming very soon and we are well poised to take our company to the next level of radio and digital growth with renewed interest from our investors and bankers. We expect robust bidding in the auctions for the three metro markets – Delhi, Bangalore and Mumbai where all large players will want to control multiple frequencies to get a larger control of the revenue pie for the next 15 years. This positive excess demand is likely to drive up these auctions prices considerably.”

Tariq Ansari, Chairman, Next Mediaworks, parent company of Radio One, added here, “Next Radio has built a solid base of loyal listeners and revenue around our strategy of differentiation in each of our markets. We are now poised to take this to the next level with an extension of our licences for 15 years and the development of a ‘tribal strategy’, which deepens engagement with our audiences and advertisers. The future is here and we are confident Radio One is all set to leap ahead.”

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