PAT grew by 16% in Q3 for Music Broadcast Limited

Music Broadcast Limited (MBL), which operates Radio City 91.1 FM, has reported a growth of 16% in profit after tax (PAT) in the third quarter of 2018 fiscal.

The company has delivered a topline growth of 9% on (year to date) YTD basis. In the nine months since April 2017, PAT grew by 10% for MBL. The company says it is ahead of the industry growth (15 Aircheck Markets).

The industry volume growth was 2%, whereas Radio City grew at 5% on a YTD basis. The volume share grew from 20% in FY17 to 21% in FY18 YTD till December.

It has delivered over 30% margins for the third consecutive quarter in the quarter that ended December 31, 2017.

Some of the key highlights of the unaudited financial results of nine months of FY18 are:

*Strong revenue growth at 9%

*Robust value growth in legacy markets

*Revenue growth majorly contributed by new stations

*Maintained EBITDA margins at 31.4%

*PAT grew by 10%

*RAM market share in Bengaluru and Mumbai at 25% and 14%, respectively

Some other key highlights of Q3 FY18 are:

*Steady revenue growth at 5%

*Maintained EBITDA margins at 30.6%

*PAT grew by 16%

*Radio City announced India’s first video FM Video City

*Radio City announced India’s biggest listeners choice awards, Radio City Cine Awards, which garnered more than two crore votes across three languages

*Radio City bagged a total of 46 awards nationally and internationally

Apurva Purohit, Director, Music Broadcast, said, “We have delivered a strong topline growth of 9% against mixed trends of the market. The growth is achieved mainly on the back of rapidly growing new markets along with an uptick in volumes. Despite a non-conducive environment, we have grown at 5% in volume terms in comparison to the industry growth rate of 2%.”

She further added, “There has been a 20% revenue growth in both November and December, we believe that the impact of demonetisation and GST has reduced to a great extent and business will only continue to grow from here. There are signs of an economic revival which will further bolster our growth prospects.”

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