Second quarter revenues at Radio Mirchi’s owner climbed just 1.5 percent compared with the first quarter.
Entertainment Network (India) Ltd (ENIL) saw total revenues of US$13.63 million (Rs86.55 crore*) between July and September.
But the figure was 12.3 percent higher than the second quarter last year.
Quarterly net profit grew 59.4 percent year on year at US$2.58 million (Rs 16.4 crore).
Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) stood at US$3.99 million (Rs. 25.3 crores), up 33.6 percent.
Prashant Panday, ED & CEO of ENIL said: “The media sector witnessed a consolidation of sorts in Q2. The bigger brands have done well, while the rest languished. FM radio has again done better than all traditional media, growing at between 10-12% over last year, as has Mirchi.”
Panday said Radio Mirchi was “best placed” to take advantage of Phase III of private FM licensing in India, which has yet to be announced by the Indian government despite several promises.
In a presentation describing its strategic direction, ENIL said it would bid for new licences and position the company to benefit from regulatory reforms.
These are likely to include ownership of multiple frequencies in any one market and the roll-out of networking.
ENIL also plans to take the Radio Mirchi brand to other global markets.
As well as 35 Indian cities, the Mirchi name is also on the air in the United Arab Emirates.
*Crore = 10 million.