Next Radio Limited, which operates India’s seven-city network Radio One 94.3 FM, has reported a 93.3 percent increase in profit before tax in its FY 2014-15 results.

The company, which is a joint venture between Next Mediaworks and BBC Worldwide, declared its Q4 and annual results of FY 14-15 on Wednesday.

Its profit before tax grew to $1.48 million (Rs 94 million) from $770,000 (Rs 48.6 million).

The revenue for FY 14-15 went up to $10.32 million (Rs 654.3 million) from $9.3 million (Rs 589.7 million), growing by 11 percent.

EBIDTA grew 21 percent from $3.28 million (Rs 208.2 million) to $3.93 million (Rs 249 million) in the same period and cash generated by the business grew 34 percent.

Vineet Singh Hukmani, MD & CEO, Next Radio said: “By growing our on air and digital innovations for which we charge a premium and keeping our operating costs lower than the industry we have consistently delivered an EBIDTA margin of 38 percent. Phase 3 auctions and migrations are coming very soon and we are well poised to take our company to the next level of radio and digital growth with renewed interest from our investors and bankers.”

Tariq Ansari, Chairman, Next Mediaworks – the Parent company of Radio One – said: “Next Radio has built a solid base of loyal listeners and revenue around our strategy of differentiation in each of our markets. We are now poised to take this to the next level with an extension of our licences for 15 years and the development of a ‘tribal strategy’ which deepens engagement with our audiences and advertisers.”