Radio Mirchi posts operating revenue of Rs 152 crore in Q4

Mumbai: Entertainment Network (India) Ltd (ENIL), a Times Group company and the operator of India’s leading FM radio channel Radio Mirchi, has posted consolidated operating revenue of Rs 151.84 crore for the quarter ended March 2020. ENIL had posted revenue of Rs 175.77 crore in the final quarter of the previous financial year.

However, the Covid-19 pandemic has resulted in a major drop in advertising revenues and profitability during the quarter. The company posted a net loss of Rs 3.23 crore, as against a net profit of Rs 19.24 crore in the corresponding period last year. “The pandemic and its consequent adverse effect on the economy also negatively impacted the business operations of ENIL,” said Prashant Panday, MD & CEO, ENIL. “There have been no significant changes, however, in the controls and processes which are key to our ability to run operations without disruptions in these difficult conditions.”