25 January,2018 12:12 PM IST | | mid-day online correspondent
Music Broadcast Limited (MBL), India's 1st Private FM Radio Broadcaster, has reported its Un-audited Financial Results for the Quarter ended December 31st , 2017 and has delivered a topline growth of 9% on YTD basis.
Ahead of the Industry Growth (15 Aircheck Markets)
Industry volume growth at 2%, whereas Radio City grew at 5% on YTD basis
Volume share grew from 20% in FY17 to 21% in FY18 YTD Dec
Key Highlights - 9MFY18 :
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Key Highlights - Q3 FY18 :
Commenting on the results Apurva Purohit, Director- Music Broadcast Ltd. said: "We have delivered a strong topline growth of 9% against mixed trends of the market. The growth is achieved mainly on the back of rapidly growing new markets along with an uptick in volumes. Despite a non-conducive environment, we have grown at 5% in volume terms in comparison to the industry growth rate of 2%.
There has been a 20% revenue growth in both November and December, we believe that the impact of demonetization and GST has reduced to a great extent and business will only continue to grow from here. There are signs of an economic revival which will further bolster our growth prospects."
About Music Broadcast Limited
Music Broadcast Limited (MBL) is the 1st private FM radio broadcaster in India. MBL has its presence from 4 cities in 2001 to 39 cities as on 31st March 2017 and is present in 12 out of the top 15 cities in India by population. MBL also operates 48 web radio stations through Radio City in nine languages, which has a listenership of 30 mn as on December 2017. MBL has been Ranked 1st in Mumbai, Bangalore and Delhi in terms of number of listeners and have a total number of 52.5 million listeners across all 23 cities covered by AZ Research. MBL has been awarded the Best Place to Work in the media industry and other industries in 2013,2014,2015 & 2017.
Safe Harbor Statement
Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential product characteristics and uses, product sales potential and target dates for product launch are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors.
