Entertainment Network India Ltd (ENIL), which operates FM radio stations under the Radio Mirchi brand, has posted a net profit of Rs.10.5 crore for the quarter ended September, as against a net profit of Rs.8.32 crore in the corresponding period a year ago.
During the quarter, ENIL’s total income from operations grew to Rs.77 crore from Rs.70 crore a year ago.
“The media sector continues to be under pressure due to poor economic scenario, but within this, the radio sector has reported double-digit growth. Mirchi has retained its 35-36% revenue market share reporting a double-digit revenue growth this quarter also,” said Prashant Panday, executive director and chief executive officer, ENIL. “Overall, the company’s cash position remains strong with Rs.269 crore in liquid form. We are now eagerly awaiting the imminent roll-out of Phase-III.”
Radio Mirchi runs radio stations across 32 cities in India.