Mumbai, Maharashtra, India
Music Broadcast Limited (MBL), India’s 1st Private FM Radio Broadcaster, has reported its audited Financial Results for the quarter and year ended March 31st, 2024.
- Key Highlights – Q4FY24:
- Q4FY24 Top line of Rs 62.6 Crores; 22% Growth YoY
- EBITDA* at Rs. 16.1 Crores; 52% Growth YoY
- EBIDTA Margin at 25.7%
- Key Highlights – FY24:
- FY24 Top line of Rs 228.5 Crores; 15% Growth YoY
- EBITDA* at Rs. 56.2 Crores; 31% Growth YoY
- EBIDTA Margin at 24.6%
*Includes other income
Commenting on the results Mr. Shailesh Gupta, Director said, “We are pleased to report a robust performance for the year ended FY24, marked by healthy growth in both topline and profitability metrics. Our revenues increased by 15%, reflecting strong market demand and effective execution of our strategies. Furthermore, our EBITDA expanded by 31%, with an EBITDA margin of 24.6%, indicating improved operational efficiency and cost management initiatives.
One significant achievement during the year was the substantial increase in inventory utilization, reaching 78% compared to 63% in the previous year. This underscores our commitment to optimizing resource utilization and enhancing operational effectiveness.
Throughout the year, we implemented a range of strategic initiatives to fortify our position in the radio industry. Additionally, our comprehensive omni-channel framework enabled us to leverage the extensive reach of our networks, thereby delivering optimal value to our clients.
A key focus area for us remains the digital business, which demonstrated impressive growth of 25% year-on-year. We are attuned to the evolving media landscape, prioritizing digital channels for content creation, distribution, consumption, and engagement. We are investing in our technological capabilities to stay ahead of the digital curve, ensuring seamless experiences across various platforms.
We are delighted to note that Radio City continues to be the preferred choice with advertisers, with 40% of industry client base selecting our platform. Moreover, among newly acquired clients in the radio domain, 33% have specifically opted to showcase their advertisements on Radio City, reflecting the strength of our brand and the effectiveness of our marketing efforts.
Looking ahead, we remain committed to driving sustainable growth and delivering value to our stakeholders. By staying agile, innovative, and customer-centric, we are well-positioned to capitalize on emerging opportunities and navigate challenges in the dynamic media landscape.”
