MUMBAI: Radio Mirchi, Entertainment Network India Ltd’s radio business, is back in the black as it curtailed its expenses in a still recovering… advertising market.
The second-quarter net profit stood at Rs 38.17 million despite a 9.15 per cent fall in revenue. For the earlier-year period, Radio Mirchi had a net loss of Rs 32.78 million.
An aggressive cost management kept total expenses down by 19.39 per cent to Rs 509.36 million for the quarter under review.
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ENIL’s standalone revenue for the quarter ended 30 September stood at Rs 559.30 million, down from Rs 615.64 million a year ago. Total expenses, however, fell by 19.39 per cent to Rs 509.36 million in the quarter under review. Click here to read more
