Tag: Prashant Panday

FY-16: Radio Mirchi revenue up 16 percent, crosses Rs 500 crore

BENGALURU: Indian private FM player Entertainment Network (India) Limited (ENIL), which runs the Radio Mirchi radio network in India, reported 16 percent increase in Total Income from Operations (TIO) for the year ended 31 March 2015 (FY-16, current year). Annual revenue crossed Rs 500 crore for the first time in FY-16. The company reported consolidated revenue of Rs 508.61 crore for the current year as compared to Rs 434.48 crore in the previous fiscal.

Note: (1) 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.
(2) The numbers in this report are consolidated unless stated otherwise. Consolidated quarterly numbers for the quarter ended 31 March 2016 (Q4-16) have been arrived at by deducting the company’s reported consolidated numbers for the nine month period ended 31 December 2015 (9M-16) from its reported consolidated numbers for FY-16.

The company’s consolidated profit after tax (PAT) in FY-16 declined sightly by 5.7 percent to Rs 99.99 crore (19.7 percent PAT margin) as compared to Rs 105.98 crore (24.2 percent PAT margin). ENIL’s board of directors has recommended a dividend of Re.1 per equity share of face value of Rs 10 each.

Commenting on the results, ENIL CEO Prashant Panday said, “Rs 500 crores is an important milestone in any media company’s life and I am happy we’ve crossed that! We’re now working on launching our 2nd channel in every major city in the country, as well as entering new markets like Chandigarh, Kochi and Guwahati for the first time with brand Mirchi. We look forward to a very exciting next 5-years.”

Consolidated TIO for the quarter ended 31 March 2016 (Q4-16, current quarter) increased 18.3 percent year-over-year (y-o-y) to Rs 147.20 crore from Rs 124.43 crore and increased 2.5 percent quarter-over-quarter (q-o-q) from Rs 143.56 crore in Q3-16.

Consolidated PAT in Q4-16 declined 21 percent y-o-y to Rs 20.15 crore (13.7 percent PAT margin) as compared to Rs 25.49 crore (20.5 percent PAT margin) and declined 25.3 percent q-o-q from Rs 26.99 crore (18.8 percent PAT margin).

Let us look at the other numbers reported by Radio Mirchi

ENIL’s consolidated Earnings before Interest, Depreciation, Taxes and Amortisation (EBIDTA) for FY-16 increased 9.7 percent to Rs 159.35 crore (31.3 percent EBIDTA margin) from Rs 145.25 crore (33.1 percent EBIDTA margin). EBIDTA in Q4-16 at Rs 38.53 crore (26.2 percent EBIDTA margin) increased 11.6 percent y-o-y from Rs 34.53 crore (27.7 percent EBIDTA margin), but declined 22.5 percent q-o-q from Rs 49.74 crore (34.6 percent EBIDTA margin).

ENIL total expense (TE) in FY-16 increased 18.2 percent to Rs 385.54 crore (75.8 percent of TIO) from Rs 326.10 crore (74.4 percent of TIO) in FY-15. TE in Q4-2016 at Rs 117.57 crore (79.9 percent of TIO) increased 19.8 percent y-o-y as compared to Rs 102.74 crore (71.6 percent of TIO) and increased 14.4 percent q-o-q from Rs 102.74 crore (71.6 percent of TIO).

ENIL paid 20.2 per cent higher license fee in FY-16 at Rs 26.19 crore (5.1 percent of TIO) as compared to Rs 21.79 crore (5 percent of TIO) in FY-15. License fee in Q4-2016 increased 5.7 percent y-o-y to Rs 6.37 crore (4.3 percent of TIO) as compared to Rs 6.03 crore (4.8 percent of TIO), but declined 7.2 percent q-o-q from Rs 6.87 crore (4.8 percent of TIO) in Q3-16.

The company’s marketing expense in FY-16 increased 31.7 percent to Rs 99.74 crore (19.6 percent of TIO) from Rs 75.76 crore (17.3 percent of TIO) in FY-15. Marketing expense in Q4-2016 at Rs 41.21 crore (28 percent of TIO) increased 30.5 percent y-o-y from Rs 31.57 crore (25.4 percent of TIO) and increased 29.7 percent q-o-q from Rs 31.78 crore (22.1 percent of TIO).

The company’s programming and royalty expenses in the current year increased 16.8 percent to Rs 17.86 crore (3.5 percent of TIO) from Rs 15.28 crore (3.5 percent of TIO) in FY-15. Programming and royalty expenses in the current quarter increased 20.3 percent y-o-y to Rs 5.09 crore (3.5 percent of TIO) from Rs 4.23 crore (3.4 percent of TIO) 6.8 percent q-o-q from Rs 4.77 crore (3.3 percent of TIO) in Q3-16.

Employee Benefit Expense (EBE) in FY-16 increased 13 percent to Rs 93.53 crore (18.4 percent of TIO) from Rs 82.76 crore (18.9 percent of TIO) in the previous year. EBE in Q4-16 at Rs 25.06 crore (17 percent of TIO) increased 19.4 percent y-o-y from Rs 20.98 crore (16.9 percent of TIO) and increased 1.4 percent q-o-q from Rs 24.70 crore (17.2 percent of TIO).

Other expenses in FY-16 increased 14.6 percent to Rs 111.95 crore (22 percent of TIO) from Rs 97.64 crore (22.3 percent of TIO) in FY-15. Other expenses in Q4-16 at Rs 30.94 crore (21 percent of TIO) increased 14.2 percent y-o-y from Rs 27.08 (21.8 percent of TIO) and increased 20.3 percent q-o-q from Rs 25.72 crore (17.9 percent of TIO).

ENIL won 17 stations in Phase 3 auctions and has launched Bengaluru, Guwahati and Kochi stations. Bengaluru is Radio Mirchi’s first launch in the second frequencies network.

Radio Mirchi with Delhi International Airport (P) Limited (DIAL) has launched ‘Mirchi T3’ radio at Terminal 3 of Delhi Airport. With Mirchi T3, Radio Mirchi looks to cater to the niche group of premium listeners who frequent India’s premier airport.

May 20, 2016
Q3-2016: ENIL reports 23% YoY revenue

BENGALURU: Indian private FM player Entertainment Network (India) Limited (ENIL) reported 22.9 per cent YoY increase in Total Income from Operations (TIO) in the quarter ended 31 December, 2015 (Q3-2016, current quarter) at Rs 143.57 crore as compared to the Rs 117.69 crore and 23.5 per cent higher QoQ as compared to Rs 116.27 crore in the immediate trailing quarter.

The company’s profit after tax (PAT) in Q3-2016 declined 18.8 per cent to Rs 26.99 crore (18.8 per cent margin) as compared to Rs 32.84 crore (28.1 per cent margin) and was flat QoQ as compared to Rs 26.97 crore (23.2 per cent margin) in Q2-2016. The company had entered the Rs 100 crore PAT club in FY-2015 with a PAT of Rs 105.98 crore (24.2 per cent margin) on a TIO of Rs 483.48 crore.

Notes: (1) 100,00,000 = 100 Lakhs = 10 million = 1 crore

(2) The numbers in this report are consolidated unless stated otherwise.

Let us look at some of the other numbers reported by ENIL:

The company’s EBIDTA in Q3-2016 at Rs 49.74 crore (34.6 per cent margin) was 11.6 per cent higher YoY as compared to Rs 44.58 crore (38.2 per cent margin) and was 39.3 per cent higher QoQ as compared to Rs 35.71 crore (30.7 per cent margin) in the previous quarter.

ENIL total expense (TE) in Q3-2016 at Rs 102.74 crore (71.6 per cent of TIO) was 27.6 per cent higher YoY as compared to Rs 80.53 crore (69 per cent of TIO) and was 13.1 per cent higher QoQ as compared to Rs 90.86 crore (78.1 per cent of TIO) in Q2-2016.

ENIL paid 17.5 per cent higher license fee in Q3-2016 at Rs 6.87 crore (4.8 per cent of TIO) as compared to Rs 5.84 crore (five per cent of TIO), but 12.3 per cent lower than the Rs 7.83 crore (6.7 per cent of TIO) in Q2-2016.

The company’s marketing expense in Q3-2016 at Rs 31.78 crore (22.1 per cent of TIO) was 53.3 per cent more YoY as compared to Rs 20.73 crore (17.8 per cent of TIO) and was more than double (2.06 times) QoQ as compared to Rs 15.47 crore (13.3 per cent of TIO) in Q2-2016.

The company’s programming and royalty expenses in the current quarter increased 20.6 per cent to Rs 4.77 crore (3.3 per cent of TIO) as compared to Rs 3.96 crore (3.4 per cent of TIO) in the corresponding year ago quarter and was 13.1 per cent higher than the Rs 4.22 crore (3.6 per cent of TIO) in Q2-2016.

Other expenses in Q3-2016 at Rs 25.72 crore (17.9 per cent of TIO) was 24 per cent higher YoY as compared to Rs 20.73 crore (17.8 per cent of TIO) but was 18 per cent lower as compared to Rs 31.37 crore (21 per cent of TIO) in the immediate trailing quarter.

Employee Benefit Expense (EBE) in Q3-2016 at Rs 24.70 crore (17.2 per cent of TIO) was 16.5 per cent more YoY as compared to Rs 21.21 crore (18.2 per cent of TIO) and was 14 per cent more QoQ as compared to Rs 21.67 crore (18.6 per cent of TIO).

ENIL managing director and CEO Prashant Panday said, “The festive quarter has been a terrific one for us! We have grown by 23 per cent in Q3 this year after having grown at 19 per cent in the same quarter last year. With the roll-outs of Phase-3 stations well underway, we hope to see rapid growth in the years to come. The next five years belong to radio!”

ENIL’s participation in the first batch of Phase-3 auctions resulted in an expansion of its footprint into seven new towns namely Chandigarh, Kochi, Kozhikode, Jammu, Srinagar, Guwahati and Shillong.

Radio Mirchi with Delhi International Airport (P) Limited (DIAL) has recently launched ‘Mirchi T3’ radio at Terminal 3 of Delhi Airport. With Mirchi T3, Radio Mirchi looks to cater to the niche group of premium listeners who frequent the airport.

February 9, 2016
Q3-2016: ENIL reports 23% YoY revenue

BENGALURU: Indian private FM player Entertainment Network (India) Limited (ENIL) reported 22.9 per cent YoY increase in Total Income from Operations (TIO) in the quarter ended 31 December, 2015 (Q3-2016, current quarter) at Rs 143.57 crore as compared to the Rs 117.69 crore and 23.5 per cent higher QoQ as compared to Rs 116.27 crore in the immediate trailing quarter.

The company’s profit after tax (PAT) in Q3-2016 declined 18.8 per cent to Rs 26.99 crore (18.8 per cent margin) as compared to Rs 32.84 crore (28.1 per cent margin) and was flat QoQ as compared to Rs 26.97 crore (23.2 per cent margin) in Q2-2016. The company had entered the Rs 100 crore PAT club in FY-2015 with a PAT of Rs 105.98 crore (24.2 per cent margin) on a TIO of Rs 483.48 crore.

Notes: (1) 100,00,000 = 100 Lakhs = 10 million = 1 crore

(2) The numbers in this report are consolidated unless stated otherwise.

Let us look at some of the other numbers reported by ENIL:

The company’s EBIDTA in Q3-2016 at Rs 49.74 crore (34.6 per cent margin) was 11.6 per cent higher YoY as compared to Rs 44.58 crore (38.2 per cent margin) and was 39.3 per cent higher QoQ as compared to Rs 35.71 crore (30.7 per cent margin) in the previous quarter.

ENIL total expense (TE) in Q3-2016 at Rs 102.74 crore (71.6 per cent of TIO) was 27.6 per cent higher YoY as compared to Rs 80.53 crore (69 per cent of TIO) and was 13.1 per cent higher QoQ as compared to Rs 90.86 crore (78.1 per cent of TIO) in Q2-2016.

ENIL paid 17.5 per cent higher license fee in Q3-2016 at Rs 6.87 crore (4.8 per cent of TIO) as compared to Rs 5.84 crore (five per cent of TIO), but 12.3 per cent lower than the Rs 7.83 crore (6.7 per cent of TIO) in Q2-2016.

The company’s marketing expense in Q3-2016 at Rs 31.78 crore (22.1 per cent of TIO) was 53.3 per cent more YoY as compared to Rs 20.73 crore (17.8 per cent of TIO) and was more than double (2.06 times) QoQ as compared to Rs 15.47 crore (13.3 per cent of TIO) in Q2-2016.

The company’s programming and royalty expenses in the current quarter increased 20.6 per cent to Rs 4.77 crore (3.3 per cent of TIO) as compared to Rs 3.96 crore (3.4 per cent of TIO) in the corresponding year ago quarter and was 13.1 per cent higher than the Rs 4.22 crore (3.6 per cent of TIO) in Q2-2016.

Other expenses in Q3-2016 at Rs 25.72 crore (17.9 per cent of TIO) was 24 per cent higher YoY as compared to Rs 20.73 crore (17.8 per cent of TIO) but was 18 per cent lower as compared to Rs 31.37 crore (21 per cent of TIO) in the immediate trailing quarter.

Employee Benefit Expense (EBE) in Q3-2016 at Rs 24.70 crore (17.2 per cent of TIO) was 16.5 per cent more YoY as compared to Rs 21.21 crore (18.2 per cent of TIO) and was 14 per cent more QoQ as compared to Rs 21.67 crore (18.6 per cent of TIO).

ENIL managing director and CEO Prashant Panday said, “The festive quarter has been a terrific one for us! We have grown by 23 per cent in Q3 this year after having grown at 19 per cent in the same quarter last year. With the roll-outs of Phase-3 stations well underway, we hope to see rapid growth in the years to come. The next five years belong to radio!”

ENIL’s participation in the first batch of Phase-3 auctions resulted in an expansion of its footprint into seven new towns namely Chandigarh, Kochi, Kozhikode, Jammu, Srinagar, Guwahati and Shillong.

Radio Mirchi with Delhi International Airport (P) Limited (DIAL) has recently launched ‘Mirchi T3’ radio at Terminal 3 of Delhi Airport. With Mirchi T3, Radio Mirchi looks to cater to the niche group of premium listeners who frequent the airport.

February 9, 2016
Q2-2016: ENIL reports 11.6% YoY revenue & 15.8% PAT growth

BENGALURU: Indian private FM player Entertainment Network (India) Limited (ENIL) reported 11.6 per cent increase in Total Income from Operations (TIO) in the quarter ended 30 September, 2015 (Q2-2016, current quarter) at Rs 116.27 crore as compared to the Rs 104.14 crore in Q2-2015. TIO in the current quarter was 14.5 per cent more than the Rs 101.56 crore in immediate trailing quarter.

The company’s profit after tax (PAT) in Q2-2016 increased 15.8 per cent to Rs 26.97 crore (23.2 per cent margin) as compared to the Rs 23.30 crore (22.4 per cent margin) in the corresponding year ago quarter and was 4.2 per cent more than the Rs 25.88 crore (25.5 per cent of TIO) in Q1-2016. The company had entered the Rs 100 crore PAT club in FY-2015 with a PAT of Rs 105.98 crore (24.2 per cent margin) on a TIO of Rs 483.48 crore.

Notes: (1) 100,00,000 = 100 Lakhs = 10 million = 1 crore

(2) The numbers in this report are consolidated unless stated otherwise.

Let us look at some of the other numbers reported by ENIL

The company’s EBIDTA in Q2-2016 at Rs 35.71 crore (30.7 per cent margin) was 13.7 per cent more than the Rs 31.40 crore (30.2 per cent margin) in the corresponding year ago quarter and almost flat (up by 90 basis points) as compared to the Rs 35.38 crore (34.8 per cent margin) in the previous quarter.

ENIL total expense (TE) in Q2-2016 at Rs 90.86 crore (78.1 per cent of TIO) was 12.3 per cent more than the Rs 80.89 crore (77.7 per cent of TIO) in Q2-2015 and was 22.2 per cent more QoQ than the Rs 74.38 crore (73.2 per cent of TIO) in Q1-2016.

ENIL paid 48.8 per cent higher license fee in Q2-2016 at Rs 7.83 crore (6.7 per cent of TIO) as compared to the Rs 5.27 crore (5.1 per cent of TIO) in Q2-2015 and 53.3 per cent more than the Rs 5.11 crore (5 per cent of TIO) in Q1-2016.

The company’s marketing expense in Q2-2016 at Rs 15.47 crore was (13.3 per cent of TIO) was seven per cent lower than the Rs 16.63 crore (16 per cent of TIO) in Q2-2015, but 37 per cent more than th Rs 11.29 crore (11.1 per cent of TIO) in Q1-2016.

Employee Benefit Expense (EBE) in Q2-2016 at Rs 21.67 crore (18.6 per cent of TIO) was 7.5 per cent more than the Rs 20.17 crore (19.4 per cent of TIO), but was 1.9 per cent lower than the Rs 22.10 crore (21.8 per cent of TIO) in Q1-2016.

ENIL managing director and CEO Prashant Panday said, “We are extremely happy with our results. Despite a sluggish economy, we have grown our revenues and profits substantially. With Phase-3 auctions over, we are gearing up to launch brand Mirchi into exciting new towns like Kochi and Chandigarh, as well as launch our second brand of radio in most of the major markets of the country. Radio is going to boom in the next five years, and Mirchi will surely be at the forefront.”

ENIL’s participation in the first batch of Phase-3 auctions has resulted in an expansion of its footprint into seven new towns – Chandigarh, Kochi, Kozhikode, Jammu, Srinagar, Guwahati and Shillong.

Further, ENIL recently received the permission from the Ministry of Information & Broadcasting (MIB) to acquire four stations from TV Today Network Limited, viz., Amritsar, Patiala, Shimla and Jodhpur – which the company says will be re-branded and re-launched shortly as Mirchi, adding to its North India network strength. With these 11 stations, the core Mirchi brand will now be available in 43 cities.

October 27, 2015
Q1-2016: ENIL revenue up 9.1%, PAT up 6.3%

BENGALURU: Indian private FM player Entertainment Network (India) Limited (ENIL) reported 9.1 per cent increase in Total Income from Operations (TIO) in the quarter ended 30 June, 2015 (Q1-2016) to Rs 101.56 crore as compared to the Rs 93.12 crore in Q1-2015, but declined 18.4 per cent as compared to the Rs 124.43 crore in Q4-2015.

The company’s profit after tax (PAT) in the current quarter increased 6.3 per cent to Rs 25.88 crore (25.5 per cent of TIO) as compared to the Rs 24.35 crore (26.2 per cent margin) in Q1-2015 and was 1.5 per cent more than the Rs 25.49 crore (20.5 per cent margin) in Q4-2015. It may be recalled that the company had entered the Rs 100 crore PAT club in FY-2015 with a PAT of Rs 105.98 crore (24.2 per cent margin) on a TIO of Rs 483.48 crore

Notes: (1) 100,00,000 = 100 Lakhs = 10 million = 1 crore

(2) The numbers in this report are consolidated unless stated otherwise.

Let us look at some of the other numbers reported by ENIL

The company’s EBIDTA in Q1-2016 at Rs 35.38 crore (34.8 per cent margin) was 1.8 per cent more than the Rs 34.74 crore (37.3 per cent margin) and was 2.5 per cent more than the Rs 34.53 crore (27.7 per cent margin) in Q4-2015.

ENIL total expense (TE) in Q1-2016 at Rs 74.38 crore (73.2 per cent of TIO) in Q1-2016 was 11.7 per cent more than the Rs 66.58 crore (71.5 per cent of TIO) in Q1-2015, but was 24.2 per cent lower than the Rs 98.10 crore (78.8 per cent of TIO) in Q4-2015.

ENIL paid 10 per cent higher license fee in Q1-2016 at Rs 5.11 crore (five per cent of TIO) as compared to the Rs 4.65 crore (five per cent of TIO) in Q1-201, but was 15.3 per cent lower than the Rs 6.03 crore (4.8 per cent of TIO) in the immediate trailing quarter.

The company’s marketing expense in Q1-2016 at Rs 11.29 crore (11.1 per cent of TIO) was 59.3 per cent more than the Rs 7.09 crore (7.6 per cent of TIO) in Q1-2015, but was a little more than a third (64.5 per cent lower) than the Rs 31.57 crore (25.4 per cent of TIO) in Q4-2015.

Employee Benefit Expense (EBE) in Q1-2016 at Rs 22.10 crore (21.8 per cent of TIO) was 8.3 per cent more than the Rs 20.41 crore (21.9 per cent of TIO) in the corresponding quarter of the previous year and was 5.3 per cent more than the Rs 20.98 crore (16.9 per cent of TIO) in Q4-2015.

ENIL managing director and CEO Prashant Panday said, “It’s been a sombre quarter for radio companies, largely on account of the high base of election advertising last year. Overall advertising growth remains satisfactory, though below expectations, possibly because of the sluggish economy. The good news is that Phase-3 auctions have finally started. This will spur new growth in the years to come.”

August 4, 2015
Times Group’s ENIL not appealing after Red FM permitted to participate in auctions

MUMBAI: Times Group’s Entertainment Network India Limited (ENIL), which operates one of India’s most popular radio stations- Radio Mirchi, had earlier approached the Madras and Delhi High Courts in light of the conditional approval given to Sun TV Group’s radio network by the Madras HC. The hearing for the same was adjourned to 21 August. However, with the recent Red FM verdict, allowing the network to participate in the Phase III auctions, ENIL has decided that it will not appeal further.

ENIL MD and CEO Prashant Panday said, “We are very happy with the final order the Delhi HC has given. It removes the conditional approval worry of ENIL. So, we are not appealing any further.”

The e-auctions will take place in New Delhi on 27 July from 9:30 am onwards. The Delhi High Court, which had earlier permitted Digital Radio Broadcasting Ltd, which runs Red FM to take part in the mock e-auction, on 26 July, gave permission for the network to take part in the main e-auction for FM Phase III.

ENIL had approached both, Madras and Delhi High Courts, due to the conditional approval given to Sun Group companies, namely Kal Radio, Sun TV and South Asia FM Ltd. In a previous interview, Panday stated that the conditional approval “puts the radio industry in a tizzy.”

Panday had earlier said that ENIL was opposed to a conditional approval to Sun Group, and clarified that ENIL had no problem if Sun Group participated in the auctions.

Explaining ENIL’s stand, Panday said, “Conditional would put the whole auction process in jeopardy. Since all cities progress simultaneously in this auction, removing any winning bidder later (if required) is impossible. If still done, it will harm the interests of other bidders whose strategies could have been different had they known this. That is why we did not want conditional approval for Sun. We were fine with any final decision. The conditional approval allowed Sun TV to participate, however, the result of which, will be kept in a sealed cover and produced before the Court. As you know, TOI Group has been against the revocation of their (Red FM) license.”

July 26, 2015
FY-2015: ENIL PAT up 27% at Rs 105.97 crore

BENGALURU: Indian private FM player Entertainment Network (India) Limited (ENIL) reported 27 per cent increase in profit after tax (PAT) at Rs 105.97 crore (24.2 per cent of Total Income from Operations or TIO) in FY-2015 (year ended 31 March, 2015, current year) as compared to the Rs 83.45 crore (21.7 per cent of TIO) in the previous year. The company has entered the Rs 100 crore PAT club this year.

PAT in Q4-2014 increased by 20.1 per cent to Rs 25.52 crore (20.5 per cent of TIO) as compared to the Rs 21.24 crore (18.6 per cent of TIO) in the corresponding year ago quarter, but was 22.3 per cent lower than the Rs 32.86 crore (28.1 per cent of TIO) in the immediate trailing quarter.

Notes: (1) 100,00,000 = 100 lakh = 10 million = 1 crore

(2) The numbers in this report are standalone unless stated other wise.

ENIL’s TIO in FY-2015 increased 14 per cent to Rs 438.48 crore as compared to the Rs 384.49 crore in FY-2014. TIO in Q4-2015 increased 8.8 per cent to Rs 124.43 crore as compared to the Rs 114.42 crore in Q4-2014 and was 6.5 per cent more than the Rs 116.79 crore in Q3-2015.

Let us look at some of the other numbers reported by ENIL:

ENIL total expense (TE) in FY-2015 at Rs 326.02 crore (74.4 per cent of TIO) was 11.8 per cent lower than the Rs 291.64 crore (75.9 per cent of TIO) in FY-2014. TE in Q4-2015 at Rs 98.06 crore (78.8 per cent of TIO) was 7.9 per cent more than the Rs 90.87 crore (79.4 per cent of TIO) and was 21.8 per cent more than the Rs 80.53 crore (69 per cent of TIO) in the trailing quarter.

ENIL paid 7.7 per cent higher license fee in FY-2015 at Rs 21.79 crore (five per cent of TIO) as compared to the Rs 20.24 crore (5.3 per cent of TIO) in the previous year. License Fee in Q4-2015 increased 5.1 per cent to Rs 4.23 crore (3.4 per cent of TIO) as compared to the Rs 4.03 crore (3.5 per cent of TIO) in the corresponding year ago quarter and was seven per cent more than the Rs 3.96 crore (3.4 per cent of TIO) in Q3-2015.

The company’s marketing expense in FY-2015 at Rs 75.76 crore (17.3 per cent of TIO) was 24.6 per cent more than the Rs 60.82 crore (15.8 per cent of TIO) in FY-2015. Q4-2015 marketing expense at Rs 31.57 crore (25.4 per cent of TIO) was 4.1 per cent lower than the Rs 32.91 crore (28.8 per cent of TIO), but was 54.2 per cent higher than the Rs 20.47 crore (17.5 per cent of TIO) in Q3-2015.

Employee Benefit Expense (EBE) in FY-2015 at Rs 82.76 crore (18.9 per cent of TIO) was 10 per cent more than the Rs 75.22 crore (19.6 per cent of TIO) in the previous year. EBE in Q4-2015 at Rs 20.98 crore (16.9 per cent of TIO) was 9.4 per cent more than the Rs 19.17 crore (16.8 per cent of TIO) in Q4-2014, but 1.1 per cent lower than the Rs 21.21 crore (18.2 per cent of TIO) in the immediate trailing quarter.

ENIL managing director and CEO Prashant Panday said, “It’s a very happy feeling for all Mirchi folks that the company they created has entered the Rs 100 crore PAT club! Our sustained focus on cost management as well as better sales in our radio, TV properties, and activations businesses has helped reach this milestone. We see the future even brighter with Phase-3 auctions coming up next month. This opportunity to expand is coming after nearly 10 years and we plan to make the most of it. Overall, Mirchi remains the strongest brand in radio with a 33-35 per cent share of the revenue market in its cities and a listenership lead across most of its 32 cities.”

May 19, 2015
ENIL reports 42 per cent higher PAT for Q2-2015

BENGALURU: Indian private FM player Entertainment Network (India) Limited (ENIL) reported 42 per cent higher y-o-y PAT for Q2-2015 at Rs 23.30 crore (22.4 per cent of Total Income from Operations or TIO) as compared to the Rs 16.41 crore (19 per cent of TIO). PAT in Q2-2015 was 4.3 per cent lower than the Rs 24.35 crore (26.1 per cent of TIO) in Q1-2015. For HY-2015, ENIL reported 32.2 per cent growth in PAT to Rs 47.65 crore (24.1 per cent of TIO) from Rs 36.33 crore (21.15 per cent of TIO) in HY-2014.

Notes: (1) 100,00,000 = 100 lakh = 10 million = 1 crore

ENIL Total Income from Operations (TIO) in Q2-2015 at Rs 104.03 crore was 11.6 per cent more than the Rs 93.26 crore in Q1-2015 and 20.2 per cent more than the Rs 86.55 crore in Q2-2014. For HY-2015, TIO at Rs 197.63 crore was 15 per cent more than the Rs 171.78 crore in HY-2014.

Let us look at the other numbers reported by ENIL

ENIL total expense (TE) in Q2-2015 at Rs 80.89 crore (77.8 per cent of TIO) was 21.5 per cent more than the Rs 66.58 crore (71.4 per cent of TIO) in Q1-2015 and 16.8 per cent more than the Rs 69.24 crore (80 per cent of TIO) in Q2-2014. For HY-2015, TE at Rs 147.47 crore (74.6 per cent of TIO) was 11.4 per cent more than the Rs 132.38 crore (77.1 per cent of TIO) in HY-2014.

The company’s production expense in Q2-2015 at Rs 4.52 crore (4.3 per cent of TIO) was 9.5 per cent more than the Rs 4.13 crore (4.4 per cent of TIO) in Q1-2015 and 11.2 per cent more than the Rs 4.06 crore (4.7 per cent of TIO) in Q2-2014. In HY-2015, production expense at Rs 8.64 crore (4.4 per cent of TIO) was 9.6 per cent more than the Rs 7.88 crore (4.6 per cent of TIO) in HY-2014.

The company paid 13.3 per cent higher license fee in Q2-2015 at Rs 5.27 crore (5.1 per cent of TIO) as compared to the Rs 4.65 crore (5 per cent of TIO) in Q1-2015 and 13.2 per cent more than the Rs 465.1 crore (5.4 per cent of TIO) in Q2-2014. For HY-2015, ENIL paid license fee of Rs 9.91 crore (5 per cent of TIO), which was 6.2 per cent more than the Rs 9.34 crore (5.4 per cent of TIO) in HY-2014.

The company almost doubled (up 1.97 times) its marketing expense in Q2-2015 to Rs 23.73 crore (22.8 per cent of TIO) from Rs 12.03 crore (12.9 per cent of TIO) in Q1-2015 and increased it by 38.9 per cent from Rs 17.09 crore (19.7 per cent of TIO) in Q2-2014. Marketing expense for HY-2015 at Rs 35.77 crore (18.1 per cent of TIO) was 29.1 per cent higher than Rs 27.69 crore (16.1 per cent of TIO) in HY-2014.

Employee Benefit Expense (EBE) in Q2-2015 at Rs 20.17 crore (19.4 per cent of TIO) was 1.2 per cent lower than the Rs 20.41 crore (21.9 per cent of TIO) in Q1-2015 and 8.7 per cent more than the Rs 18.55 crore (21.4 per cent of TIO) in Q2-2014. HY-2015 EBE was higher by 8.1 per cent at Rs 40.57 crore (20.5 per cent of TIO) than the Rs 37.55 crore (21.9 per cent of TIO) in HY-2014.4

Other expense in Q2-2015 rose 11 per cent to Rs 19.05 crore (18.3 per cent of TIO) from Rs 17.17 crore (18.4 per cent of TIO) in Q1-2015 and was 12.4 per cent more than the Rs 16.95 crore (19.6 per cent of TIO) in Q2-2014. Other expense in HY-2015 rose 5.9 per cent to Rs 36.22 crore (18.3 per cent of TIO) from Rs 34.21 crore (19.9 per cent of TIO) in HY-2014.

“The radio sector has again turned out an impressive performance, not surprising considering that it accounts for more than 30 per cent of media consumption time, but gets only 5-6 per cent of advertising revenues. We believe radio will continue to grow faster than other media in the future as well. We are excited that the PM himself believes so strongly in radio, and hope that the Ministry of I&B under Mr. Arun Jaitley will quickly complete the auctions process commenced by Mr. Prakash Javadekar. Overall, we remain buoyant about radio’s prospects in the years to come,” said ENIL CEO Prashant Panday.

November 15, 2014
Radio Mirchi confirms maiden dividend; 53.6 per cent PAT growth in Q1-2014

BENGALURU: The Bennett, Coleman & Co. Limited promoted Indian private FM player Entertainment Network (India) Limited (ENIL) which operates FM radio broadcasting stations through the brand Radio Mirchi in 32 Indian cities announced that its shareholders had approved a dividend of 10 per cent for FY-2013.

ENIL’s net profit for the year ended 31 March 2013 was Rs 67.7 crore and total revenue for FY-2013 was Rs 338.4 crore. Considering the consistent good performance of the company year-on-year and the strong cash position in FY-2013, the ENIL board of directors had recommended a maiden dividend of 10 per cent i.e. Rs 1 per equity share of Rs 10.

ENIL reported a 53.6 per cent PAT growth in Q1-2014 as compared to the corresponding quarter of 2013. ENIL’s PAT was Rs 19.92 crore for Q1-2014 and Rs 12.97 crore in Q1-2013.

ENIL’s PAT for Q1-2014 was however lower by 22.5 per cent than the Rs 25.7 crore in Q4-2013.

Note: Tax expense for the quarter/year ended 31 March 2013 was net of Rs 2.866 crore of excess provision in respect of earlier years and written back pursuant to conclusion of assessment.

Let us look at ENIL’s other figures for Q1-2014

ENIL’s revenue for Q1-2014 stood at Rs 85.2 crore on a consolidated basis, up 23.8 per cent over the Rs 68.87 crore in Q1-2013, but 18.9 per cent lower than the Rs 105 crore for Q4-2013.

ENIL’s EBITDA in Q1-2014 stood at Rs 35.1 crore, up 34.1 per cent as compared to Q1-2013. The company’s EBITDA margin improved from 38.1 per cent to 41.2 per cent in Q1-2014.

Expenditure for Q1-2014 at Rs 63.15 crore was 9.8 per cent more than the Rs 57.5 crore for Q1-2013, but 18.8 per cent lower than the Rs 77.85 crore for Q4-2013.

ENIL spent Rs 10.61 crore towards marketing in Q1-2014, 36.7 per cent more than the Rs 7.76 crore in Q1-2013, but just a little more than a third (35.5 per cent) of the Rs 29.91 crore in Q4-2013.

It paid license fees of Rs 4.688 crore in Q1-2014, 27.5 per cent more than the license fees of Rs 3.677 crore in Q1-2013, but lower by 12.8 per cent than the Rs 5.375 crore in Q4-2013. The company had paid license fees of Rs 18.092 crore in FY-13.

ENIL’s production expense of Rs 3.82 crore in Q1-2014 was 19.7 per cent lower than the Rs 4.76 crore in Q1-2013, but was 8.7 per cent more than the Rs 3.51 crore for Q4-2013.

Employee benefits at Rs 18.99 crore in Q1-2014 was 6.6 per cent higher than the Rs 17.82 crore in Q1-2013, but 8.7 per cent lower than the Rs 20.80 crore for Q4-2013.

ENIL ED and CEO Prashant Panday said, “It’s been a surprisingly strong quarter for media, especially radio broadcasters including Mirchi. It appears advertisers are responding to the slowdown by launching new products, and even more promotional offers. This helps radio. We expect this to continue, even though we expect growth rates to taper off eventually. On Phase III, the radio industry is seeking a rationalisation of reserve fees on the same lines as is happening with 2G reserve fees, as well as an extension of Phase II licenses. We expect policy clarity in the next few months. Lastly, I am happy that the shareholders have approved ENIL’s maiden dividend of 10 per cent.”

August 13, 2013
Radio Mirchi marketing head Sriram Kilambi quits

MUMBAI: After a six-year stint, Radio Mirchi marketing head Sriram Kilambi has put in his papers at the radio station.

Kilambi is currently serving his notice period. His last day in the organisation is 31 March.

“Yes, Kilambi has resigned,” Radio Mirchi CEO Prashant Panday told Indiantelevision.com.

Kilambi will be replaced by Radio Mirchi regional marketing head-South GG Jayanta.

Kilambi had joined Entertainment Network India (ENIL) as
vice-president and cluster head- east. He was promoted as marketing head in May 2011.

He has spent more than 12 years across FMCG and media sectors in various roles like sales, marketing, and customer management. Prior to joining ENIL, he has also worked with Coca-Cola India.

March 20, 2012