MUMBAI: Radio One, now renamed Next Radio, the joint venture between Next MediaWorks and BBC worldwide has recorded a 16 per cent jump in its total revenue during the fiscal 2012-13. It posted revenue of Rs 50.41 crore as compared to Rs 43.48 crore in the previous fiscal.
The company declared its audited financial results at the annual board meeting held on 25 April.
The company has posted an Ebidta profit of Rs 18.41 crore for the year ended 31 March 2013, as against Rs 0.25 crore in the year ago period. The Ebidta margin for the year ended 31 March was at 36.5 per cent.
However, the company said that operations were sufficiently cash positive for the first time.
Meanwhile, PBT (profit before tax) (before exceptional items) was a positive Rs 0.58 crore as compared to a loss of Rs 17.78 crore in the previous fiscal, the company said.
Radio One MD & CEO Vineet Singh Hukmani said, ‘We have transformed our business with strategic restructuring. Our focus on profiled educated audiences helped us move 100 per cent advertising revenue to our ‘on air’ product.”
“Led by our international formats in Mumbai and Delhi, we are delivering high quality differentiated products in each of our seven cities at the lowest cost. Added to this we have initiated up to a 30 per cent increase in advertising rates successfully,” he added.
On Phase III, Hukmani said, “Radio One is keen to participate in Phase III bidding and is looking to expand to high value metro markets. We are hopeful that MIB will soon allow existing players with 10 year licenses to extend to 15 year licenses before Phase III bidding. This will result in confident bidding by existing players.”
Radio One runs International Radio formats in Mumbai and Delhi, 100 per cent Hindi Retro formats in Kolkata & Ahmedabad (95FM), Bollywood formats in Bangalore and Pune and is 100 per cent request station in Chennai.