Radio City maintains Leadership position with highest market share at 21%

Music Broadcast Limited (MBL), India's 1st Private FM Radio Broadcaster, has reported its Financial Results for the Quarter ended June 30th, 2021.

Key Highlights -Q1 FY22:

- Maintained Leadership Position with 21% Volume Market Share
- 71% volume growth on YoY basis
- Q1 FY22 Top line of Rs 20.5 Crores
- EBITDA* at Rs. (9.3) Crores; PAT at Rs (12.9) Crores

*Includes other income

Commenting on the results Mr. Shailesh Gupta, Director said: "Entering the new financial year, reeling with the 2nd wave of Covid-19 presented a new set of challenges, owing to the localized lockdowns and mixed indicators from the different sectors that form a substantial part of our clientele and move the industry overall. While it did not dent the operations as severely as last year, it certainly halted the momentum of recovery towards normalcy or even the possible capitalization of the growth prospects on offer in the industry.

Radio City's multiple initiatives have helped us outperform the industry and maintain our leading market share of 21% in ad volumes. Continuing with various initiatives in Q1 that were planned and implemented throughout the last year have helped us strengthen this leadership position. Keeping up with the times and ramping up our digital solutions, providing our customers end-to-end, omni-channel solutions for their products and services, the company has certainly raised the bar in terms of number and quality of service offerings.

A strong balance sheet with ample reserves for testing times as the ones we have just witnessed, have always been the focus of the company, hence, conscious efforts aimed at a good liquidity position have led to our cash reserves being Rs. 242 Crores as on 30th June as compared to Rs. 236 crores as on 31st March 2021.

Regarding the bonus issue of the non-convertible non-cumulative preference shares, SEBI has accorded its approval and we have filed the scheme with NCLT and are awaiting final approval from them."

Shares of Music Broadcast Ltd was last trading in BSE at Rs. 25.3 as compared to the previous close of Rs. 25.3. The total number of shares traded during the day was 20375 in over 197 trades.

The stock hit an intraday high of Rs. 25.9 and intraday low of 25.2. The net turnover during the day was Rs. 517806.

Source : Equity Bulls

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