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Radio Mirchi Q2 net up 31% to Rs 50 mn - Mr.Bhat - 11-04-2010

Times Group’s Entertainment Network India Ltd (ENIL), which operates the FM station Radio Mirchi, has posted a second-quarter net profit of Rs 50.10 million, up from Rs 38.17 million in the corresponding quarter of the previous fiscal.

The company has seen a 8.69 per cent jump in its income from operations at Rs 606.71 million, as against Rs 558.20 million in the year-ago period.

The company’s Ebitda margin stood at 25.1 per cent, while Ebitda for the period was Rs 302 million, up 27.3 per cent over the previous year.

Said ENIL executive director and CEO Prashant Panday, “July-September is the weakest quarter of the year for media companies. It’s very satisfying that we have delivered strong profitability. The second half of the year is bound to be stronger. I would like to compliment my team in Mirchi who have consistently delivered strong listenership and revenue numbers as well as to our listeners who have stood by us throughout.”

On a consolidated basis, the company’s revenue stood at Rs 1.08 billion for the quarter, up 9.70 per cent from the earlier year.

Consolidated results include results of the subsidiaries - Times Innovative Media (TIM), Alternate Brand Solutions (India) Limited (ABSL) and TIM Delhi Airport Advertising Private (TIMDAA), a subsidiary of TIM.