Mirchi logs 46% revenue jump in Q2 to Rs 68.81 Cr

Entertainment Network (India) Ltd (ENIL NSE -2.21 %), which operates India’s leading private FM brand Mirchi, on Tuesday posted a 46.3% increase in second quarter standalone operating revenue at ₹68.81 crore.

The core radio business recorded a strong 50% growth rate, while the solutions business witnessed a 51% jump. With a bounceback in revenues and a cost-control initiative in place, the company also turned Ebitda positive and posted an operating profit of ₹8.9 crore for the quarter ended September.

“Thanks to more pragmatic lockdowns during the second Covid-19 wave, and rapid vaccination across the country, the economic recovery has been faster this time. This has shown up in the strong results of the company,” said Prashant Panday, managing director and chief executive, ENIL.