Radio One H1FY12 Revenues Up 10%, PBT Loss Down 44%
The company seeded a new revenue stream in the music concert space which contributed promisingly to total revenues in H1. The industry grew 7% in the markets that Radio One operates.
- (1888PressRelease) October 25, 2011 - New Delhi: Radio One Ltd, the joint venture between Next Mediaworks Limited (earlier Mid-Day Multimedia Limited) and BBC worldwide announced its H1 results for the financial year ending March 2012, in the board meeting held on 21st October 2011.
H1FY12 revenue at Rs 23.16 crore was up 10% from Rs 21.10 crore in the same period last year. The loss before tax in the first six months of the current year was down 44%, to Rs 6.35 crore from Rs 11.27 crore in the same period last year. The company seeded a new revenue stream in the music concert space which contributed promisingly to total revenues in H1. The industry grew 7% in the markets that Radio One operates.
Vineet Singh Hukmani, MD Radio One Ltd said 'The company sees phase 3 as an opportunity to improve its business efficiency in the metros using networking that lowers cost and the news and current affairs space that offers higher revenue opportunity. New metro cities are being evaluated for their revenue to cost ratio and the company is in the final stages of deciding which cities it would consider bidding for.'
Tariq Ansari, Chairman Next Mediaworks Limited said 'Key shareholders, in a show of confidence are converting a considerable part of debt to equity to reduce over gearing and are exploring new investor interest due to the strategic value that the company has as it holds only lucrative metro licenses critical for any player entering the radio business. Next Mediaworks Limited is also incubating a digital business as a future strategic initiative that helps us take advantage of the global 3G and 4G space'
Radio One operates in 7 markets in India, namely Mumbai, Delhi, Kolkata, Chennai, Bangalore, Pune and Ahmedabad.
About Radio One
94.3 Radio One is a joint venture between Next Mediaworks Limited and BBC Worldwide operating in 7 metros- Mumbai, Delhi, Kolkata, Chennai, Bangalore, Pune and Ahmedabad. The music channel promises MAXIMUM MUSIC, MAXIMUM CHOICE to its listeners with best music ranging across genres. Being a music passionate station, Radio One has Music jocks (MJ's) instead of Radio jocks.
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