Music and Youth
Radio Mirchi Q3FY07 turnover rises 31%, net profit up 14%
MUMBAI: The Times Group’s private FM Radio operator Entertainment Network India Ltd (ENIL) – which operates stations under the brand name Radio Mirchi – has announced its results for the quarter ended 31 December 2006.
During the quarter (Q3FY07), total income grew by 30.6 per cent to Rs 484.1 million compared to Rs 370.7 million for the corresponding quarter in the previous year.
The Company’s earnings before interest, depreciation, tax and amortization (Ebitda) grew 20.8 per cent to Rs 176.5 million and net profit stood at Rs 124 million, up 13.9 per centg YoY. On a like basis (7 Phase I stations only), Ebitda for Q3FY07 stood at Rs 151.1 million, up 3.4 per cent YoY.
Total income during YTD December 2006 grew 46 per cent to Rs 1,263 million while Ebitda increased by 15.4% to Rs. 33.50 crores. On a like basis (7 Phase I stations only), Ebitda during YTD December 2006 stood at Rs 347.1 million, up 19.6 per cent YoY.
The new stations namely Bangalore, Hyderabad and Jaipur recorded Ebitda margin of 28.2 per cent for the quarter. According to data based on Indian Listenership Track 2006 (ILT – Wave 2 conducted by MRUC) for the period September- November 2006, Radio Mirchi retained the number one position in Mumbai and Delhi while establishing itself as the dominant number one station in Kolkata too. Radio Mirchi has increased its lead over #2 player in Mumbai from 30 per cent to 40 per cent while maintaining its 2:1 lead in Delhi, a company release asserts.
During the quarter, Radio Mirchi premiered the music of blockbusters which include Vivaah, Dhoom2, Babul and Guru on its network.
Commenting on the performance of the company, Enil managing director and CEO AP Parigi said, “In the emerging competitive landscape, Radio Mirchi has again demonstrated not only its brand leadership in the new markets of Bangalore, Hyderabad and Jaipur but has also demonstrated robust growth in financial terms. In the new markets, within the short span of nine months, the company has achieved an Ebitda breakeven.”
Based on the present rate of progress, the company is confident of completing rollout of the remaining 22 stations by 31 July, 2007.
MUMBAI: Mumbai is about to witness something it has never seen before. The Global Youth Festival arrives on 6-7 December at Jio World Garden with 15,000 attendees and 60-plus experiences sprawled across six sprawling arenas. On its sixth edition, this is no ordinary jamboree—it is a carefully orchestrated collision of wellness, adventure, arts, music, yoga and social change.
Chief Minister of Maharashtra Devendra Fadnavis will throw open the proceedings with a landmark ceremony, signalling the state’s backing for a movement that has already mobilised youth across 20-plus countries and 170-plus cities. The sheer scale is staggering: 500-plus volunteers powering the machine, 600,000-plus volunteer hours logged across previous editions, and millions of lives touched annually.
The speaker roster is formidable. Diipa Büller-Khosla and Dipali Goenka, chief executive of Welspun India, will share the stage with Malaika Arora in conversations spanning leadership, creativity and culture. Union Minister for Sports and Youth Affairs Mansukhbhai Mandaviya will also attend, reinforcing GYF’s reach into the corridors of power.
But this is not mere talk. The Solaris Mainstage promises concerts from renowned Indian artists. Innerverse delivers a 360-degree LED spectacle of art, technology and sound. The Love and Care Arena houses hands-on projects spanning women’s empowerment, child education, rural upliftment and animal welfare. India’s largest outdoor sound-healing experience awaits. An inflatable obstacle course, neon drifter karts and open-sky bouldering cater to thrill-seekers.
Some have branded GYF the “Coachella of Consciousness.” Others call it “India’s Largest Sober Festival.” Spiritual visionary Pujya Gurudevshri Rakeshji, who inspired the festival, will deliver the Wisdom Masterclass. Every rupee goes to charity.
After Mumbai comes Kolkata on 14 December. New York looms next year. For one weekend in December, Mumbai becomes the epicentre of youth-driven change—and nothing will be quite the same after.
Tickets available on BookMyShow. Visit youthfestival.srmd.org or follow @globalyouthfestival on Instagram.
