MUMBAI: Radio station MY FM has reported an encouraging Q2 FY 18-19 performance with upbeat growth across segments. The radio network’s advertising revenue improved by 8.4% YOY to Rs 377 million in Q2 of current period as against Rs 348 million in Q2 of last fiscal. On an adjusted basis, Radio delivered growth of 18% after adjusting for last fiscal’s festival season billing.
The company, which comes under the roof of DB Corp Limited (DB Corp), reported EBIDTA growth at 30% YOY to Rs 120 million from Rs 92 million. With a focus on robust inventory management and differentiated programming, the company has seen exceptional growth with PAT at 47% YOY to Rs 58 million from Rs 40 million preceding year.
Speaking about the same MY FM Business Head Rahul Namjoshi said, “We are delighted to see an upward curve in our overall performance during the second quarter. The outcomes are an authentication of our consumer centric approach and a verse market understanding which has made the path easier. Closely monitored execution with and strategic delivery in content helped us to increase our margins during the quarter. Operating efficiencies continues to be our focus and we are positioned for significant growth during the year.”
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Meanwhile, Radio Phase 3 stations have become profitable as per the reports and turned EBIDTA positive, following the complete commissioning of all 13 stations, acquired under batch 1 of Phase 3 during 2017. The profitability has been achieved on the backing of strong inventory management, program profile and growing popularity.
