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MUMBAI:
Entertainment Network (India) Limited (ENIL)'s stand-alone
net profit has dipped 87 per cent to Rs 6.4 million for the
second quarter of this fiscal even as it launched seven new
FM radio stations.
Revenue,
though, jumped 30 per cent to Rs 531.98 million, as against
Rs 412.89 million a year ago.
"We
launched 14 FM stations over the last two quarters. This has
impacted our bottomline as we are in investment mode. But
our revenue has seen a 30 per cent rise. While old stations
contributed for a 12 per cent rise in revenues, the new ones
accounted for the incremental 18 per cent growth," a
company executive said.
On
a consolidated basis, ENIL had a net loss of Rs 171.96 million
for the quarter ended 30 September 2007, as against a net
loss of Rs 248.66 million for the corresponding quarter last
fiscal.
The
company's consolidated revenue was at Rs 858.21 million for
the second quarter.
Commenting
on the performance ENIL MD AP Parigi said, "The rollout
of radio stations across the length and breadth of the country
and the portfolio ramp up opportunities in Times OOH reaffirms
the growth trajectory for the Company."
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