Next Radio Ltd., which operates India’s only international and upscale format FM radio network 94.3 Radio One, has reported a revenue of Rs 19.56 crore in the second quarter of FY’19, up 17% from Rs 16.73 crore in the previous quarter. The Q2 revenue ending September 30, 2018 was up 3% over the corresponding quarter in the previous year.
The company’s EBIDTA stood at Rs 3.37 crore in Q2FY19, up 32% from Rs 2.54 crore in Q1FY19 and up 13.4% from Rs 2.97 crore in Q2FY18.
In the half year ending September 30, 2018, the company reported a revenue of Rs 36.29 crore, up 4.8% from Rs 34.46 crore in the corresponding period of the previous year. The company reported a superlative EBIDTA growth of 54.7% from Rs 3.27 crore in H1FY18 to Rs 5.91 crore in H1FY19.
Commenting on the financial performance, Vineet Singh Hukmani, MD and CEO, Next Radio Ltd, said, “Despite an overall commoditised and difficult media market in the first half of the year that continues to witness single-digit top line growth, we were able to maximise efficiencies across functions, resulting in substantial EBIDTA growth in our radio business.”
“In our 11th year, we continue to be India’s No.1 international radio network in Delhi, Mumbai and Bangalore and only premium Hindi network in Pune, Kolkata, Chennai and Ahmedabad. We have not only strengthened our position with unique engaging content designed for our 5.94 million upscale listener tribe (IRS 2017) but we now have a means to measure brand consumption and preferences of our high-value audience using our innovative audience tracker called the International Indian Monitor. This pioneering effort offers unique value to our advertisers in creating powerful and engaging conversations with our unique tribe on air and online,” he added.