MUMBAI: Entertainment Network (India) Ltd., has reported revenues of Rs 600 million for the quarter ended 31 December 2008, Rs 78 million (11.5 per cent) down from corresponding period figures last fiscal.
Profit after tax stood at Rs 49 million.
The Company’s earnings before interest, tax, depreciation and amortization (EBITDA) stood at Rs 183 million, while the EBITDA margin for Q3 FY09 was at 30.6 per cent as against 28.1 per cent in Q3 FY08, an improvement of 249 bps.
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Revenue for the nine months ended 31 December 2008, grew by 10.1 per cent to Rs 1787 million as compared to Rs 1623 million in the corresponding period of last fiscal year.
On a consolidated basis, ENIL reported revenues of Rs 1103 million during Q3 FY 09 compared to Rs 1350 million Q3 FY 08.
For the nine months ended 31 December 2008, revenues grew by 12.7 per cent to Rs 3273 million.
Says ENIL managing director A P Parigi, Managing Director, ENIL said The general economic slowdown has hurt advertisement revenues. Our emphasis currently is on enhancing market share, innovation, productivity increases and cost optimization….
Adds Mirchi CEO Prashant Panday, It has been a trying quarter. Client advertising spends have been under pressure. In this environment, Mirchi has outperformed its competitors – our market share has grown by one per cent. We expect this to continue, even as the market itself contracts. ENIL’s competitive position will continue to strengthen going forward,as it gains further ground over competitors, in listenership as well as brand recognition. With efforts to rationalize costs already initiated, we expect to protect margins going forward. We are also confident that as the market improves, ENIL is best placed to take advantage of the growth….
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