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MUMBAI: Entertainment Network India Ltd (ENIL) has posted a net profit of Rs 4.12 million for the quarter ended 30 June 2007.
During the period the company`s revenue rose to Rs 408.4 million, representing a 19.5 per cent increase to Rs 341.7 million in the prior-year period.
On a consolidated basis, the company`s net loss stood at Rs 76.7 million, while revenue was at Rs 691 million in the first quarter of FY 08.
This quarter, Radio Mirchi launched seven new stations in Patna, Jalandhar, Bhopal, Rajkot, Baroda, Panji and Kanpur. It also launched in Nasik, Varanasi and Aurangabad in July. These were among the 22 stations slated to be rolled out in phase II.
Commenting on the performance ENIL MD A P Parigi said, “The quarter witnessed rapid fire roll out of stations. In a period of four months ten stations in different geographies went on air. The initial response in these stations has been good. Radio Mirchi continues to be leader with 49 per cent market share. We believe that we have taken a significant step forward in our Times out-of-home (OOH) business by building a portfolio of high quality assets. We believe our planned initiatives in the OOH business will be value accretive.”
