Radio City reports stellar Q1FY25: PAT grows by 175% to Rs.3 Cr; Revenue Grows by 12% to Rs. 60Cr; EBITDA grows by 25% to Rs. 16 Cr

Earnings Release for Q1FY

Mumbai, 2^nd August 2024: Music Broadcast Limited (MBL), India’s 1^st Private FM Radio Broadcaster, has reported its Financial Results for the quarter ended June 30^th, 2024.

Key Highlights – Q1FY25:

• Q1FY25 PAT at Rs. 3 Crores; 175% Growth YoY
• Revenue of Rs. 60 Crore; 12% Growth YoY
• EBITDA at Rs. 16 Crores; 25% Growth YoY
• EBIDTA Margin at 27%

Commenting on the results Mr. Shailesh Gupta, Director said:

“We are delighted to report a good performance for the past quarter, with profit growth surpassing our revenue growth. Revenue increased by 12% YoY, EBITDA rose by 25% YoY, and PAT grew by an impressive 175% YoY. We achieved an EBITDA margin of 27%. This exceptional performance was driven by good market demand & success of our ongoing cost reduction strategies over the past few years driving enhanced operational efficiency.

At Radio City, we’ve implemented various strategies to strengthen our position in the radio industry. This quarter, we maintained our market share at 19%. Our comprehensive omni-channel framework enhances our network's reach, delivering maximum value to our clients.

Our digital business remains a key focus, which achieved remarkable 45% YoY growth. We are adapting to the evolving media landscape by prioritizing digital channels for content creation, distribution, and engagement. Our investment in technology ensures we stay ahead of the curve and provide seamless experiences across platforms.

Radio City’s launch on JioTV not only extends our reach but also provides advertisers with limitless opportunities to engage with a nationwide audience. Radio City will be able to reach out to JioTV’s massive audience base across the country.

We are happy to share the recent launch of ‘SMINCO.in’ a Social Media Influencer Confluence which connects brands with influencers. Through its comprehensive framework, it provides seamless solutions for brands and influencers alike. These initiatives demonstrate our commitment & innovation towards our digital business which remains our key focus.

We are pleased to report that Radio City remains the top choice for advertisers, with 40% of the industry’s client base choosing our platform. Additionally, 32% of new clients in the radio sector have specifically selected Radio City for their advertisements, underscoring the strength of our brand and the success of our marketing efforts.

Looking ahead, we are committed to driving sustainable growth and delivering value to our stakeholders. By staying agile, innovative, and customer-focused, we are well positioned to seize emerging opportunities and navigate challenges in the evolving media landscape