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Mumbai: Entertainment Network (India) Ltd (), the operator of India's leading FM radio channel Radio Mirchi, has posted standalone operating revenue of Rs 99 crore for the fiscal fourth quarter, a 17.2% increase sequentially.
The jump was driven by the solution business which grew 76.7% from the third quarter.
A year earlier, ENIL had posted revenue of Rs 149.42 crore.
The company posted a net loss of Rs 65.65 crore for the quarter, after making an impairment provision of Rs 97.5 crore in its Mirchi Love and Kool businesses because of Covid-induced stress. Without exceptional items, it would have posted a net profit of Rs 70.3 lakh.
A year earlier, it had reported a net loss of Rs 1.96 crore.
The company posted earnings before interest, tax, depreciation and amortisation of Rs 24 crore for the quarter and Rs 16.3 crore for the fiscal year. ENIL said its cost-cutting initiatives continued to yield savings, with other operating costs down by 39% over the same quarter last year.
"It was a tough quarter, but one with several positive news," managing director and CEO Prashant Panday said. "Ad volumes grew over last year indicating a return of advertisers to the medium. The solutions business turned in higher gross profits than last year, despite lower revenues."
Panday said the most exciting feature for the quarter was the share of the digital business, which grew to nearly 11.5% of revenues, indicating strong traction for the company's digital assets.
"Operating costs fell by 32%. And while the impairment provision is unfortunate, we will strive to overturn its impact as the economy revives," Panday said.
For the fiscal year ended March 31, ENIL reported a standalone net loss of Rs 109.07 crore, compared with a net profit of Rs 14.49 crore in the previous year. Operating revenue declined to Rs 266.82 crore due to an overall slowdown in the economy and a major drop in government advertising. Income from operations was Rs 540.59 crore in the previous fiscal year. The ENIL board has recommended a dividend of Rs 1 per equity share of Rs 10 each for the financial year 2020-21.
ENIL, which is part of the Times of India Group that also publishes The Economic Times, operates a network of 76 FM stations in 63 cities, including three Ishq FM stations of TV Today Network.
The jump was driven by the solution business which grew 76.7% from the third quarter.
A year earlier, ENIL had posted revenue of Rs 149.42 crore.
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Stock score of Entertainment Network (India) Ltd moved down by 2 in 3 months.
View Latest Stock Report »The company posted a net loss of Rs 65.65 crore for the quarter, after making an impairment provision of Rs 97.5 crore in its Mirchi Love and Kool businesses because of Covid-induced stress. Without exceptional items, it would have posted a net profit of Rs 70.3 lakh.
A year earlier, it had reported a net loss of Rs 1.96 crore.
The company posted earnings before interest, tax, depreciation and amortisation of Rs 24 crore for the quarter and Rs 16.3 crore for the fiscal year. ENIL said its cost-cutting initiatives continued to yield savings, with other operating costs down by 39% over the same quarter last year.
"It was a tough quarter, but one with several positive news," managing director and CEO Prashant Panday said. "Ad volumes grew over last year indicating a return of advertisers to the medium. The solutions business turned in higher gross profits than last year, despite lower revenues."
Panday said the most exciting feature for the quarter was the share of the digital business, which grew to nearly 11.5% of revenues, indicating strong traction for the company's digital assets.
"Operating costs fell by 32%. And while the impairment provision is unfortunate, we will strive to overturn its impact as the economy revives," Panday said.
For the fiscal year ended March 31, ENIL reported a standalone net loss of Rs 109.07 crore, compared with a net profit of Rs 14.49 crore in the previous year. Operating revenue declined to Rs 266.82 crore due to an overall slowdown in the economy and a major drop in government advertising. Income from operations was Rs 540.59 crore in the previous fiscal year. The ENIL board has recommended a dividend of Rs 1 per equity share of Rs 10 each for the financial year 2020-21.
ENIL, which is part of the Times of India Group that also publishes The Economic Times, operates a network of 76 FM stations in 63 cities, including three Ishq FM stations of TV Today Network.
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