Next Radio Ltd. which operates India’s seven city network Radio One, has reported a 396 percent increase in profit before tax in the nine months from April to December 2013.

The company says it turned a loss of US$160,000 (INR 1.0 crore) last year into a profit of $4.73 million (INR2.96 crore) this year.

Quarter three revenues (October to December 2013) grew more than 10 percent year on year to US$2.53 million (INR 15.22 Crore).

Consolidated revenues from April to December 2013 grew nearly 17 percent to $6.92 million (INR 43.29 Crore) compared to the same period last year.

Vineet Singh Hukmani, MD & CEO, Next Radio Limited (RADIO ONE) said: “Radio One continues to grow in value in a commoditised volume market. Our focus on content that engages a well profiled educated audience coupled with strong online connect is ensuring our growth.”

“Quarter three saw us being EBIDTA positive across all our seven city stations. We continue to be the most low cost-high efficiency player with a consistent 30 percent plus EBIDTA margin quarter on quarter.”

“We have successfully announced a 20 percent advertising rate hike from February 1 2014 in order to fund further content and digital up-gradation. This will help us engage listeners better and offer higher value to advertisers.”

Hukmani said he expects the radio industry to benefit from the India’s upcoming general election which is set for May, during quarter four.