The radio business of Indian conglomerate DB Corp saw third quarter revenues climb nearly 25 percent, compared to the same period last year.

MY FM, which operates in eight cities, saw advertising revenue hit US$3.87 million (Rs23.82 crore), compared to $3.1 million  (Rs19.08 crore) in Q3 2012.

On a quarter on quarter basis, radio revenues grew 33 percent from $2.91 million (Rs17.88 crore).

Pre-tax profits for its radio business over 12 months from Q3 2012 to Q3 2013 almost doubled to $14.2 million (85.07 crore).

Overall, DB Corp, which owns several large newspapers, saw total consolidated revenues expand by 19 percent to $85.4 million (Rs. 525.4 crore) in Q3, compared to the same period in 2012.

In its financial statement, Sudhir Agarwal, Managing Director, DB Corp Ltd said, “We are pleased with the good start to this year as we report a healthy performance in the third quarter. As we continue to maintain a pragmatic approach towards operational controls and higher efficiency, we have also been closely focusing on studying the marketing strategies of niche brands in Tier 2 and 3 cities that have echoed our confidence in the potential of these regions.”

“We will continue in our endeavours to utilise our competitive strengths most productively, to strengthen our infrastructure, monetize our centres and thereby translate this growth to deliver greater value to all stakeholders.”