MUMBAI: Radio One posts 92 per cent growth in revenues in the quarter ended 30 September 2008, over the corresponding period last year.
In a media release, the company maintains that this makes Radio One the fastest growing in â€?rate of revenue growth in the radio sector as compared to last years financials’
The company’s PBT operations for the half year ended 30 September have indicated a growth of 117 per cent over the corresponding period last year. In the first quarter, Radio One had announced a growth of 85 per cent over the corresponding period last year.
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Estimates indicate that the radio sector has grown 27 per cent (in the six metros that radio One operates) over last year’s net revenue figures. Radio One operates in six cities – Mumbai, Delhi, Bangalore, Chennai, Pune and Ahmedabad and is slated to launch in Kolkata by December this year.
Says Radio One CEO Vineet Singh Hukmani, â€?We have always focussed on maximizing business yield at the current level of business investment before we expand to the next level, so you can call our approach more â€?mid term entrepreneurial’ versus â€?long term speculative’.
As for the phase III of radio in the country, Hukmani says, “We will be a focussed â€?consolidator of metro/mini metro business’ and not an expansive â€?dominator of geographies’ and that is clear to us.”
