Radio City narrows losses in FY22

Music Broadcast Limited (MBL), which operates Radio City, has reported Q4FY22 top line of Rs 46 crore, up 8% YoY from Rs 42.4 crore in the corresponding quarter of the previous fiscal.

The company reported a loss of Rs 2 crore in the quarter ending March 31, 2022.

For the full financial year 2021-22, the company’s top line stood at Rs 168.4 crore, up 32% YoY.

MBL’s net loss for the year stood at Rs 5.7 crore as against Rs 24 crore in the previous fiscal.

Commenting on the results Shailesh Gupta, Director, MBL, said, “The festive season led to some recovery in Radio Adex, which flowed into this quarter too, and we expect this to grow significantly in FY23.

“The opening up of the country and return of advertising spending has provided just the shot in the arm to build upon the relentless efforts in the previous few quarters towards becoming a more efficient, robust, and resilient organisation. This combined with the successful cost optimisation measures deployed internally and the benefits of operating leverage kicking in overtime have helped us reduce our losses drastically for the quarter and even annually.

“New revenue initiatives have begun to account for a significant chunk of our overall topline, accounting for 32% of the revenue this quarter, with clear indications that they are sustainable and will continue to drive steady growth going forward as well. The company has stayed true to its underlying belief of maintaining a strong liquidity position as a war chest to weather any storm and capitalise on exciting opportunities with cash reserves, standing at Rs. 264 crores, as on March 31, 2022.”

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