Radio City Q2 revenue tumbles, margins collapse; losses deepen despite cost cuts

New Delhi: Music Broadcast Ltd (Radio City) reported its weakest quarter in years. Revenue from operations fell to Rs 37.84 crore in Q2FY26 from Rs 54.83 crore a year ago and Rs 49.32 crore in Q1, a drop of 31.0 per cent YoY and 23.3 per cent QoQ. 

Total income sank to Rs 44.68 crore from Rs 61.32 crore YoY and Rs 56.34 crore QoQ. 

The collapse in topline crushed operating performance. EBITDA slumped to Rs 1.35 crore (EBITDA margin 3.57 per cent) from Rs 9.52 crore a year ago and Rs 7.96 crore in Q1 (margins 17.36 per cent and 16.13 per cent, respectively), an 86 per cent YoY and 83 per cent QoQ erosion. 

Radio City ended the quarter with a net loss of Rs 6.88 crore, far worse than Rs 1.99 crore a year ago and Rs 2.17 crore in the previous quarter. Net profit margin plunged to -18.18 per cent (vs -3.63 per cent YoY; -4.41 per cent QoQ). 

Costs did come down, but nowhere near enough to offset the revenue slide. Total expenses were Rs 53.44 crore, down 15.5 per cent YoY and 8.7 per cent QoQ. 

For H1FY26, the drift is clear. Revenue from operations was Rs 87.17 crore, down 23.8 per cent year-on-year. 

EBITDA for the half-year was Rs 9.31 crore, down 63 per cent from Rs 25.38 crore in H1FY25. 

The company swung to a net loss of Rs 9.05 crore versus a profit of Rs 0.59 crore a year ago. Operating margin for H1 halved to 10.68 per cent from 22.18 per cent. 

Balance-sheet quality of the company also weakened further, with net worth falling to Rs 489.33 crore from Rs 532.20 crore a year earlier.