Radio Mirchi records 13 crore net profit
August 14, 2012
Source: M M Network
Radio Mirchi, on Monday reported a net profit of Rs 13 crore for the quarter ended June 30, 2012, against a profit of Rs 9.7 crore reported in the same period last year.
Revenues for the first quarter of the current fiscal stood at Rs 68.9 crore, compared to Rs 63.2 crore in the corresponding period last year. On a consolidated basis, the company reported revenues of Rs 70 crore. The EBITDA for the quarter stood at Rs 26.2 crore compared to Rs 21.8 crore in the corresponding period of previous year. Profit after tax stood at Rs 13.4 crore, up 44.3%.
The board of directors, at its meeting held on Monday, also gave the nod to purchase IPR business from ABSL on a going concern basis through a slump sale effected through a business transfer agreement.