Radio one operating profit grows exponentially
Radio One Ltd, now renamed Next Radio Ltd, the joint venture between Next MediaWorks Ltd & BBC worldwide has declared its audited financial results for the year ended March 31, 2013
Revenue grew 16% to Rs 50.41-cr for the year ended March 31, 2013, as compared to Rs 43.48-cr in the corresponding period last year. EBIDTA profit grew exponentially to Rs 18.41-cr, as compared to Rs 0.25-cr. The EBIDTA margin for the year was at 36.5% which is in line with the best in the media industry.
Profit before tax (before exceptional items) improved to a positive of Rs 0.58-cr, as compared to a loss of Rs 17.78-cr in the corresponding period last year. The operations were sufficiently cash positive for the first time.