eNews
Radio City Q3 results: 13 per cent revenue growth and 25 per cent growth in EBITDA
Mumbai: Music Broadcast Limited (MBL), India’s private FM radio broadcaster has reported its un-audited financial results for the quarter ended 31 December 2023.
Key highlights – Q3FY24:
· Q3FY24 top line of Rs 60.4 Crores; 11 per cent growth YoY
· EBITDA at Rs 15.3 Crores; 5 per cent Growth YoY
· EBITDA margin at 25.3 per cent
Key Highlights – 9MFY24:
· 9MFY24 Top line of Rs 165.9 Crores; 13 per cent growth YoY
· EBITDA at Rs 40.1 Crores; 25 per cent growth YoY
· EBITDA margin at 24.2 per cent
· Maintained a strong Position with 19 per cent volume market share
Includes other income
Commenting on the results, Radio City director, Shailesh Gupta said, “I am pleased to share that our revenues experienced an 11 per cent growth in the Q3FY24 with EBITDA margins at 25.3 per cent. Our focus continues towards the digital business which has a significant growth moving forward.
At Radio City, we’ve executed a range of strategies to expand our positioning in the radio industry. According to Aircheck 15 Markets, in the third quarter, we successfully retained our market share at 19 per cent. Additionally, our comprehensive Omni-channel framework allows us to maximize the extensive reach of our networks, ensuring the delivery of optimal value to our clients.
About the growth in the advertising sector, the real estate industry experienced a notable 17 per cent year-on-year increase in spending. The pharmaceutical industry expanded by 15 per cent, while the auto industry demonstrated an impressive growth of 26 per cent compared to the previous year. On the finance side, the industry experienced a 9 per cent growth. Meanwhile, on the Jewellery front we witnessed a massive growth of 44 per cent and government advertising also saw a good growth of 22 per cent YoY.
In Q3FY24, our digital business witnessed a growth of 27 per cent Y-o-Y. We are aligning ourselves with the ever-changing media landscape, one that is indifferent to specific platforms, with a central focus on digital for content creation, distribution, consumption, and engagement. To ensure a smooth experience across diverse platforms, we are strengthening our capabilities to stand at the forefront of the digital technology revolution. This involves delivering top-tier entertainment that resonates with the evolving preferences and needs of our audience.
Radio City remains a preferred choice for both longstanding and recently acquired clients in the field of radio advertising. For Q3FY24, out of the overall client base utilizing the radio platform, 39 per cent have selected Radio City for their advertising campaigns. Additionally, among the newly acquired clients in the radio domain, 31 per cent have specifically chosen to feature their advertisements on Radio City.
We take pride in deriving 31 per cent of our income from a variety of offerings that includes, proactive proposals, digital initiatives, sponsorships, and special events.
eNews
PNB partners Kiwi to launch credit-enabled UPI for users
Targets 180 million customers; RuPay card offers 0.5 per cent to 1.5 per cent cashback
MUMBAI: Swipe, tap, or scan credit is quietly slipping into the rhythm of everyday payments, and Punjab National Bank wants in on the action. The state-run lender has partnered with Kiwi to roll out credit-enabled UPI payments for its 180 million customers, marking a significant push to blend traditional banking with India’s fast-evolving digital payments ecosystem.
At the centre of the collaboration is the launch of the PNB Kiwi Credit Card on the RuPay network. The card is designed with a digital-first approach, offering fully online onboarding and seamless integration with UPI, allowing users to transact via scan-and-pay while accessing credit.
The offering also brings in a rewards layer, with cashback ranging from 0.5 per cent to 1.5 per cent on online transactions, positioning the product as both a convenience play and a spending incentive.
The move comes as UPI continues to dominate India’s digital payments landscape, increasingly blurring the lines between debit-led transactions and credit access. For PNB, which operates over 10,000 branches around 60 per cent in semi-urban and rural areas, the partnership signals a targeted effort to extend formal credit to segments that have traditionally remained underserved.
The collaboration also reflects a broader industry shift, where banks and fintech platforms are converging to embed credit directly into payment flows, reducing friction while expanding access.
With RuPay credit cards gaining traction and UPI evolving beyond peer-to-peer transfers, the PNB–Kiwi tie-up positions both players at the intersection of scale, accessibility, and the next phase of digital finance in India.
