New Delhi: Entertainment Network (India) Ltd (ENIL), which operates FM radio stations under the label of Radio Mirchi, on Monday reported a 38% increase in net profit for the three months ended 31 December from a year earlier.

Profit rose to 25.8 crore in the quarter from 18.7 crore in the year-ago period. Revenue rose 12.7% to 98.5 crore from 87.4 crore.

“Given the tough macroeconomic environment, our results should be seen as strong," said Prashant Panday, chief executive officer of ENIL. “Our revenues are the highest ever for Q3 since inception. While the going will remain tough in the months to come, we expect a gradual turnaround resulting in improving medium to long term growth prospects."

Radio Mirchi operates 32 radio stations across the country.

ENIL is a subsidiary of Times Infotainment Media Limited (TIML), the holding company promoted by Bennett, Coleman & Company Ltd (BCCL), publisher of The Times of India and The Economic Times newspapers.