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Tag: Jagran Prakashan Limited

  • Radio City IPO to open on 6 March

    BENGALURU: The Initial Public Offering of (IPO) of shares of Music Broadcast Limited (MBL), the company that has the Radio City network will commence of 6 March 2017. Besides Radio City the company has a sales alliance with Suno Lemon 91.9 FM and Friends 91.9 FM in Kolkata and 40 web stations in eight languages. The company has grown its presence from four cities in 2001 to 37 cities as of mid-February this year. Under the Phase III Policy, MBL acquired 11 additional radio stations, of which 9 are already operational.

    The board of MBL had informed the stock exchanges through its parent and listed company Jagran Prakashan Limited (JPL) about the decision to hold the IPO on 24 November 2016. MBL had a turnover of Rs 240 crores in fiscal 2016 and a net worth if Rs 99.54 crore as per a JPL filing in November 2016.

    According to an MBL filing at the bourses, the book building IPO comprises of equity shares of face value of Rs 10 each for cash at a premium consisting of a fresh issue of up to Rs 400 crore and an offer for sale up to 2,658,518 equity shares by the selling shareholders .The offer will close on Wednesday, 8 March 2017. The Price Band for the Offer is fixed from Rs 324 to Rs 333 per equity share. The sole Book Running Lead Manager to the offer is ICICI Securities Limited. The equity shares are proposed to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

    MBL will be the second radio operator to list on the bourses after Times Group-controlled Entertainment Network India Ltd, which runs Radio Mirchi. 

    Also Read:

    Music Broadcast plans IPO; to make buys

    FM Radio revenues witness seasonal slump in Q4-16, Q1-17

  • Radio City revenue up 12.9 percent, adjusted profit up 19.2 percent in FY-16

    Radio City revenue up 12.9 percent, adjusted profit up 19.2 percent in FY-16

    BENGALURU: Music Broadcast Limited (MBL, Radio City) which runs Radio City reported 12.9 percent growth and 19.2 percent growth in revenue and adjusted profit after tax (PAT) respectively for the fiscal ended 31 March 2016 (FY-16, current year). Radio City reported revenue of Rs 226.76 crore for FY-16 as compared to revenue of Rs 200.84 crore in the previous fiscal. 

    Adjusted PAT in the current year was Rs 55.94 crore (24.7 percent PAT margin of revenue) as compared to Rs 46.92 crore (23.4 percent PAT marginof revenue ) in the previous year. After accounting for exceptional items that represent incentives to management team in respect of their past services in terms of agreement with erstwhile promotes, reported PAT for FY-16 works out to Rs 42.37 crore (18.7 percent PAT marginof revenue ), which means that final PAT in the current year has declined 9.7 percent as compared to FY-15.

    Note: The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:
    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.
    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

    Radio City’s operating profit (EBIDTA) in FY-16 increased 24.7 percent to Rs 77.27 crore (34.1 percent EBIDTA margin) as compared to Rs 62.16 crore (31 percent EBIDTA margin) in FY-15.

    Expenses in FY-16 were 7.8 per cent higher at Rs 149.49 crore (65.9 percent of revenue) as compared to Rs 138.67 (69 percent of revenue).

    The company paid almost three times (2.95 times) the Interest in FY-16 at Rs 18.30 crore (8.1 percent of revenue) as compared to Rs 6.21 crore (3.1 percent of revenue) for FY-15.

    Jagran Prakashan numbers in brief

    MBL’s parent company, Indian publishing company Jagran Prakashan Limited (JPL) reported 19 per cent increase consolidated operating revenue in FY-16 to Rs 2,106.5 crore as compared to Rs 1,769.8 crore in FY-15.

    JPL’s advertising revenue increased 25.2 per cent to Rs 1,560.9 crore from Rs 1,247.1 crore. Circulation revenues in the current year increased 4.7 per cent to Rs 408.5 crore from Rs 390.1 crore s compared to the previous year. JPL’s PAT in FY-16 increased 44.3 per cent to Rs 444.7 crore from Rs 308.1 crore in FY-15. JPL’s PAT in FY-16 after adjusting extraordinary item of Rs 101.8 crore on account of profit on sale of treasury share in Q1-16 and Rs 14.5 crore in Q2-16 and gain arising out of sale of treasury shares in Q4-16 is Rs 328.4 crore in FY16 and Rs 227.8 crore in FY-15.

     

  • Radio City revenue up 12.9 percent, adjusted profit up 19.2 percent in FY-16

    Radio City revenue up 12.9 percent, adjusted profit up 19.2 percent in FY-16

    BENGALURU: Music Broadcast Limited (MBL, Radio City) which runs Radio City reported 12.9 percent growth and 19.2 percent growth in revenue and adjusted profit after tax (PAT) respectively for the fiscal ended 31 March 2016 (FY-16, current year). Radio City reported revenue of Rs 226.76 crore for FY-16 as compared to revenue of Rs 200.84 crore in the previous fiscal. 

    Adjusted PAT in the current year was Rs 55.94 crore (24.7 percent PAT margin of revenue) as compared to Rs 46.92 crore (23.4 percent PAT marginof revenue ) in the previous year. After accounting for exceptional items that represent incentives to management team in respect of their past services in terms of agreement with erstwhile promotes, reported PAT for FY-16 works out to Rs 42.37 crore (18.7 percent PAT marginof revenue ), which means that final PAT in the current year has declined 9.7 percent as compared to FY-15.

    Note: The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:
    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.
    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

    Radio City’s operating profit (EBIDTA) in FY-16 increased 24.7 percent to Rs 77.27 crore (34.1 percent EBIDTA margin) as compared to Rs 62.16 crore (31 percent EBIDTA margin) in FY-15.

    Expenses in FY-16 were 7.8 per cent higher at Rs 149.49 crore (65.9 percent of revenue) as compared to Rs 138.67 (69 percent of revenue).

    The company paid almost three times (2.95 times) the Interest in FY-16 at Rs 18.30 crore (8.1 percent of revenue) as compared to Rs 6.21 crore (3.1 percent of revenue) for FY-15.

    Jagran Prakashan numbers in brief

    MBL’s parent company, Indian publishing company Jagran Prakashan Limited (JPL) reported 19 per cent increase consolidated operating revenue in FY-16 to Rs 2,106.5 crore as compared to Rs 1,769.8 crore in FY-15.

    JPL’s advertising revenue increased 25.2 per cent to Rs 1,560.9 crore from Rs 1,247.1 crore. Circulation revenues in the current year increased 4.7 per cent to Rs 408.5 crore from Rs 390.1 crore s compared to the previous year. JPL’s PAT in FY-16 increased 44.3 per cent to Rs 444.7 crore from Rs 308.1 crore in FY-15. JPL’s PAT in FY-16 after adjusting extraordinary item of Rs 101.8 crore on account of profit on sale of treasury share in Q1-16 and Rs 14.5 crore in Q2-16 and gain arising out of sale of treasury shares in Q4-16 is Rs 328.4 crore in FY16 and Rs 227.8 crore in FY-15.