MUMBAI: Entertainment Network India Ltd's (ENIL) FM radio business, operating under the Radio Mirchi brand, has posted a net profit of Rs 248.58 million for the quarter ended 31 December 2010, up 131.55 per cent from Rs 107.36 million in the year-ago period.

A contributor to the bottom-line was exceptional income of Rs 120.3 million, which has come from the sale of the company's entire stake of 83.44 per cent in its subsidiary Times Innovative Media Limited (TIM) to parent company Bennett, Coleman & Company Ltd (BCCL).

Total revenue grew 22 per cent to Rs 774.90 million, compared to Rs 635.24 million in the earlier year. Expenses were at Rs 577.47 million, up 11.46 per cent from Rs 518.11 million in the corresponding quarter of previous fiscal.

Radio Mirchi's Ebitda (Earnings before interest, tax, depreciation and amortization) rose 33 per cent to Rs 282 million, from Rs 211 million. The EBITDA margin also improved to 36.4 per cent, from 33.2 per cent in the prior year.

ENIL executive director and CEO Prashant Panday said It's been a good quarter for most media companies. ENIL's results reflect the strength of Mirchi as a brand. Its high listenership numbers give its clients the extra punch which makes them put more monies on the brand. The results of the quarter are a tribute to the entire team at Mirchi....

However, on a consolidated basis, ENIL has reported a net loss of Rs 52.42 million, as against a profit of Rs 25.01 million in the corresponding quarter of the previous fiscal.

Revenue stood at Rs 1.46 billion, up 24.9 per cent from Rs 1.17 billion. Expenses in the quarter were at Rs 1.21 billion, as against Rs 1.13 billion in the earlier year.

The consolidated results include financials of subsidiaries –TIM, TIM Delhi Airport Advertising Pvt Ltd (till 29 December, i.e. the date of cessation of ownership) and Alternate Brand Solutions (India) Ltd.