BENGALURU: MY FM, the radio segment of media and events group DB Corp Limited (DB Corp) had higher operating revenue for the quarter ended 30 September 2017 (Q2-18, current quarter) as compared to the corresponding quarter of the previous year(Q2-17). DB Corp reported 11.6 percent y-o-y growth for operating revenue of its radio segment for Q2-18 at Rs 348.61 million from Rs 312.27 million. In its press release, DB Corp says that Radio business advertisement revenue grew 16.8 percent y-o-y to Rs 349 million from Rs 299 million.
The company however reported less than half the operating result for the radio segment for the current quarter as compared to the corresponding year ago quarter(y-o-y). Operating profit for the radio segment declined 2.12 times y-o-y in Q1-18 to Rs 61.06 million from Rs 129.66 million. EBIDTA for the radio segment declined 39.3 percent y-o-y to Rs 92 million from Rs 152 million after factoring, roll back of radio music royalty of Rs. 58 million, in Q2-17 (last year). The company says that (profit after tax) PAT for the radio segment stands at Rs. 40 million (11 percent margin), after considering roll back of radio music royalty of Rs. 58 million in Q2-17.
DB Corp says that MY FM completed the fastest roll out of all the 13 newly acquired stations under batch I of Phase III and expands reached to 7 states and across 30 cities. It claims that MY FM is the largest player in Rest of Maharashtra and continues to be number 1 in Chandigarh/Haryana/Punjab/ Rajasthan/ Madhya Pradesh and Chhattisgarh.
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Overall, DB Corp reported 5.4 percent y-o-y increase in consolidated operating revenue for the current quarter to Rs 5,683.31 million from Rs 5,390.75. Consolidated PAT declined 11.1 percent y-o-y to Rs 786.60 million from Rs 885.16 million.
