BENGALURU: Entertainment Network (India) Limited (ENIL), which runs the Radio Mirchi stations, reported 22.9 percent YoY increase in Total Income from Operations (TIO) in the quarter ended December 31, 2015 (Q3-2016, current quarter) at Rs 143.57 crore as compared to the Rs 117.69 crore and 23.5 percent higher QoQ as compared to Rs 116.27 crore in the immediate trailing quarter.

ENIL’s participation in the 1st batch of Phase - 3 auctions has resulted in an expansion of its footprint into 7 new towns - Chandigarh, Kochi, Kozhikode, Jammu, Srinagar, Guwahati and Shillong.

Radio Mirchi with Delhi International Airport (P) Limited (DIAL) has recently launched ‘Mirchi T3’ radio at Terminal 3 of Delhi Airport. With Mirchi T3, Radio Mirchi looks to cater to the niche group of premium listeners who frequent India’s premier airport.

The company’s profit after tax (PAT) in Q3-2016 declined 18.8 percent to Rs 26.99 crore (18.8 percent margin) as compared to Rs 32.84 crore (28.1 percent margin) and was flat QoQ as compared to Rs 26.97 crore (23.2 percent margin) in Q2-2016. The company had entered the Rs 100 crore PAT club in FY-2015 with a PAT of Rs 105.98 crore (24.2 percent margin) on a TIO of Rs 483.48 crore.

ENIL paid 17.5 per cent higher license fee in Q3-2016 at Rs 6.87 crore (4.8 per cent of TIO) as compared to Rs 5.84 crore (5 per cent of TIO), but 12.3 percent lower than the Rs 7.83 crore (6.7 percent of TIO) in Q2-2016.

The company’s marketing expense in Q3-2016 at Rs 31.78 crore (22.1 per cent of TIO) was 53.3 percent more YoY as compared to Rs 20.73 crore (17.8 per cent of TIO) and was more than double (2.06 times) more QoQ as compared to Rs 15.47 crore was (13.3 per cent of TIO) in Q2-2016.

The company’s programming and royalty expenses in the current quarter increased 20.6 percent to Rs 4.77 crore (3.3 per cent of TIO) as compared to Rs 3.96 crore (3.4 per cent of TIO) in the corresponding year-ago quarter and was 13.1 percent higher than the Rs 4.22 crore (3.6 per cent of TIO) in Q2-2016.

Other expenses in Q3-2016 at Rs 25.72 crore (17.9 per cent of TIO) was 24 percent higher YoY as compared to Rs 20.73 crore (17.8 per cent of TIO) but was 18 percent lower as compared to Rs 31.37 crore (21 per cent of TIO) in the immediate trailing quarter.

ENIL managing director and CEO Prashant Panday said, “The festive quarter has been a terrific one for us! We have grown by 23 per cent in Q3 this year after having grown at 19 per cent in the same quarter last year. With the roll-outs of Phase-3 stations well underway, we hope to see rapid growth in the years to come. The next five years belong to the radio!”.