Private FM Radio Broadcaster Music Broadcast Limited on Monday reported its financial reports for the quarter ending March 31st 2020. MBL reported a net loss of Rs 8.91 crores in Q4 FY 20. Radio City on the brighter side reported a net profit of Rs 28.2 crores in FY 20.
Q4 FY 20
- Total income of Rs 49.74 Crores
- EBITDA* at Rs. 4.2 Crores
- Total expenditure at Rs 61.85 Crores
- PAT at (Rs 8.91) Crores
- Revenue was Rs 247.8 Crores
- EBITDA* was Rs 66.6 Crores
- PAT was Rs 28.21 Crores
Q4 FY 20 total income for Radio City stood at Rs 49.74 crores, down from Rs 73.8 crores in Q3 FY 20. The total expenditure in Q4 FY 20 rose from Rs 59.45 crores in Q3 FY 20 to Rs 61.85 crores in Q4 FY 20. The net profit in Q3 FY 20 at Rs 10.18 crores became a net loss of Rs 8.91 crores in Q4 FY 20.
As for the annual performance, Radio City total income in FY 20 stood at Rs 264.13 crores, down from Rs 339.81 crores in FY 19. The total expenditure in FY 20 declined from Rs 244.28 crores in Q3 FY 20 to Rs 235.21 crores in Q4 FY 20. The net profit in Q3 FY 20 at Rs 61.62 crores decline to a net profit of Rs 28.21 crores in Q4 FY 20.
“The lockdown imposed to control the COVID-19 pandemic coupled with a weak economy has had an adverse impact on the overall demand environment across all industries which in turn has effected the advertising industry severely. I am pleased to share that according to an independent survey commissioned by the Association of Radio Operators for India (AROI) on Impact of media consumption during COVID-19, Radio listenership has increased from 48 million to reach 51 million second only to TV reach of 56 million and the average time spent listening to Radio has grown by 30 minutes or 23% in Urban India from 2 hours and 7 minutes to 2 hours and 36 minutes. The survey also re-iterated our belief that when it comesto credibility of information ,Radio is considered one of the most reliable sources of information. As a responsible corporate citizen and media player, we have been assisting Government authorities in their fight against COVID-19 by communicating all central and state government policies and urging our listeners to stay safe by sharing best practices with them. On the operational front, we were able to seamlessly transition our operations from “Studio” to “Work from Home” throughout these difficult times because of our stong backend technology. Our focus on prudent 2 operations and emphasis on liquidity is visible in the debt-free balance sheet of the company, along with strong cash reserves of Rs. 220 Crores which will help us weather these tough times and remain resilient through the period of recovery.”
Ms. Apurva Purohit, Director, Music Broadcast Limited