Radio City reports 11% rise in revenue and 5% growth in EBITDA in Q3FY24

The radio company's digital business grows by 27% in third quarter ending December 31, 2023

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Radio City reports 11% rise in revenue and 5% growth in EBITDA in Q3FY24

Music Broadcast Limited (MBL), which operates Radio City, has reported 11% (YoY) revenue growth to Rs 60.4 crore for the third quarter ending December 31, 2023.

Its EBITDA (including other income) grew by 5% (YoY) to Rs 15.3 crore in the third quarter of FY24. The company’s EBIDTA margin was at 25.3% in Q3FY24.

During the nine months of FY24, the company earned a revenue of Rs 165.9 crores, reflecting 13% growth. The EBITDA for the same period reached Rs. 40.1 crore, indicating a year-on-year growth of 25%. The company’s EBIDTA margin stood at 24.2% for 9 months in FY24.

In a press statement, Shailesh Gupta, Director, Music Broadcast, said, “Our focus continues towards the digital business which has significant growth moving forward. In Q3FY24, our digital business witnessed a growth of 27% Y-o-Y.”

Gupta further stated that for Q3FY24, out of the overall client base utilising the radio platform, 39% have selected Radio City for their advertising campaigns. “Additionally, among the newly acquired clients in the radio domain, 31% have specifically chosen to feature their advertisements on Radio City,” he added.

revenue EBITDA Radio City Music Broadcast Limited quarterly earnings earnings report market share Shailesh Gupta