Mumbai, Maharashtra, India Oct 31, 2022 
Music Broadcast Limited (MBL), India’s 1st Private FM Radio Broadcaster, has reported its Financial Results for the quarter and half-year ended September 30th, 2022.
- Key Highlights – H1FY23:
- H1 FY23 Top line of Rs 92.8 Crores; 48% Growth YoY
- Maintained a strong Position with 18% Volume Market Share
- EBITDA* at Rs. 17.6 Crores; EBIDTA Margin at 19.0%
*Includes other income
- Key Highlights – Q2FY23:
- Q2 FY23 Top line of Rs 48.6 Crores; 16% Growth YoY
- Maintained a strong Position with 18% Volume Market Share
- EBITDA* at Rs. 8.9 Crores; EBIDTA Margin at 18.3%
*Includes other income
Commenting on the results Mr. Shailesh Gupta, Director said, “The return of advertising volumes witnessed over the last quarter continued in the current quarter as well, with the industry growing by 20% YoY. Our resilience through the tough times has paid off, as we stand on a strong footing both in terms of market share and a strong omni-channel presence which helps us leverage our deep networks and relationships and offer maximum value to our customers. In line with our guidance over the quarters, some of the costs saved were permanent in nature, however, some business-related costs have come back as a result of resumption in normal course of business, which have led to slight reduction in EBITDA Margins.
On a sectoral level, the core sectors of Real Estate and Pharma continued to show promise, while Education came back in a big way. Finance too contributed a significant portion of the total volumes. Government and Auto were the laggards during the quarter, degrowing marginally, however, we do expect to see that turn around in the next quarter owing to upcoming elections and the festive season spending.
On the digital front, we have achieved substantial growth, owing to our strong presence and reach across multiple platforms and leveraging our incredible in-house talent to deliver high quality content and greater engagement with our audiences. This is in line with our ‘Radigitalization’ strategy i.e., digital integrations with Radio at its core, and we see sustainable benefits accruing over time.
With new revenue efforts accounting for 35% of revenue this quarter, they have begun to represent a sizable component of our overall top line and exhibit every indication of being sustainable and continuing to support steady growth moving forward. As of September 30, 2022, the company has cash reserves totaling Rs. 284 crores, staying true to its basic principles of maintaining a strong liquidity position as a war chest to weather any storm and grasp new opportunities.
Regarding the bonus issue of the non-convertible non-cumulative redeemable preference shares, the meeting of the Equity Shareholders and Unsecured Creditors of the Company was held on Thursday, June 23, 2022, wherein the Shareholders and Unsecured Creditors have approved the scheme and thereafter the Company has filed the petition with NCLT for further course of action. We will keep you posted on the developments as they unfold.”
