Radio City Records With 15% Revenue Growth And 31% EBITDA Surge

Music Broadcast Limited (MBL), India’s pioneering private FM radio broadcaster, has recently unveiled its audited financial results for the fourth quarter and fiscal year ending March 31st, 2024. The report showcases remarkable growth and promising prospects for the company in both quarterly and yearly assessments.

Key Highlights – Q4FY24:

• MBL recorded a robust top line of Rs 62.6 Crores in Q4FY24, marking a substantial 22% growth year-on-year (YoY).
• The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at Rs. 16.1 Crores, reflecting an impressive 52% growth YoY.
• Notably, the EBITDA margin reached 25.7%, showcasing improved operational efficiency and financial health.

Key Highlights – FY24:

• For the fiscal year 2024, MBL achieved a top line of Rs 228.5 Crores, indicating a commendable 15% growth YoY.
• The EBITDA surged to Rs. 56.2 Crores, representing a remarkable 31% growth YoY.
• The EBIDTA margin maintained at 24.6%, signifying sustained profitability and effective cost management.

Shailesh Gupta, Director of MBL, expressed satisfaction with the company's performance, emphasizing robust growth in both top-line revenue and profitability metrics. He attributed the positive results to strong market demand and the successful implementation of strategic initiatives.

Gupta highlighted a significant achievement – a substantial increase in inventory utilization, reaching 78% compared to the previous year's 63%. This underscores MBL's commitment to optimizing resource utilization and enhancing operational effectiveness.

Throughout the year, MBL executed a range of strategic initiatives to fortify its position in the radio industry. The company's comprehensive omni-channel framework facilitated leveraging its extensive network reach, delivering optimal value to clients.

Digital business emerged as a key focus area for MBL, witnessing an impressive 25% year-on-year growth. Gupta emphasized MBL's alignment with the evolving media landscape, prioritizing digital channels for content creation, distribution, and engagement. The company continues to invest in technological capabilities to ensure seamless experiences across platforms.

Radio City, MBL's flagship brand, maintained its status as the preferred choice for advertisers, with 40% of the industry client base selecting its platform. Additionally, 33% of newly acquired clients in the radio domain specifically chose Radio City for advertising, reflecting the strength of the brand and the effectiveness of marketing efforts.

Looking ahead, Gupta reiterated MBL's commitment to driving sustainable growth and delivering value to stakeholders. By remaining agile, innovative, and customer-centric, MBL aims to capitalize on emerging opportunities and navigate challenges in the dynamic media landscape.

In conclusion, Music Broadcast Limited's robust financial performance for FY24 reflects its resilience, strategic foresight, and commitment to excellence in the radio broadcasting industry. With a focus on digital transformation and customer-centric strategies, MBL is poised for continued success in the evolving media landscape.