MUMBAI: Entertainment Network India Ltd. (ENIL), which operates the FM station Radio Mirchi, has seen a 47 per cent surge in standalone revenues to stand at Rs 669 million for the quarter ended 31 March, 2008.
During the period, the companys net profit stood at Rs 71 million.
On a consolidated basis, the companys revenue was Rs 1.26 billion for fourth quarter of FY 08.
Total income for the full year ended March 31, 2008 on a standalone basis was Rs 2.29 billion, up 37 per cent from the year ago period. Consolidated revenues for the full year ended March 31, 2008 stood at Rs 4.16 billion.
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During the quarter, Radio Mirchi completed the second phase of the rollout with the launch of three new stations that includes Raipur, Thiruvanathapuram and Jabalpur. With the launch of Jabalpur station in February, Radio Mirchi is today operational in 32 cities.
Enil MD A P Parigi said, “With the completion of the rollout in our radio business this quarter, we have crossed a significant milestone. The early results from the investments in the new stations are very encouraging. We believe our other growth engines viz. outdoor advertising business and event management business are also in an exciting phase.”
Radio Mirchi CEO Prashant Panday added, ‘ Mirchi as a brand remains very strong and continues to command close to a 46-48 per cent share of the private FM market. This is testimony to the strength of the brand. Enil outdoor subsidiary Times Innovative Media Limited (TIML) won several prestigious outdoor advertising contracts.
During the quarter, TIML won several outdoor advertising contracts that include kiosks and BRT bus shelters at New Delhi, Unipoles at Jaipur and bus shelters in Bangalore, Hyderabad and Chandigarh.
