Entertainment Network India Ltd Q2 results: Entertainment Network (India) Ltd, operator of Radio Mirchi, India's number one FM radio channel, announced its financial results for the second quarter and half year ended September 30, 2024. Consolidated revenue for Q2FY25 reached Rs 114 crore, representing a growth of 9% year-on-year. Domestic revenue for the quarter also grew 9% year-on-year to Rs 110 crore, driven primarily by strong growth in the digital and non-FCT segments. Domestic revenue for the half year ended September 30, 2024 increased to Rs 192 crore In Q2FY25, total EBITDA (excluding digital) stood at Rs 22.5 crore, implying an EBITDA margin of 23.2%. Profit before tax (PBT) excluding digital increased to Rs 11.2 crore from Rs 8.5 crore in Q2FY24.

Including Gaana's contribution, ENIL achieved digital revenue of Rs 15.4 crore in Q2FY25, which now accounts for 21.4% of total radio revenue. This is higher than 10.8% in Q2FY24. Product enhancements and increased platform adoption helped despite recent price adjustments. Digital spending for the quarter stood at Rs 12.8 crore and further cost optimization efforts are underway.

International markets remain positive in EBITDA, contributing Rs 1.4 crore in the quarter. The balance sheet remains strong, with a cash balance of Rs 391 crore as of September 30, 2024. Commenting on the results, Yatish Maharishi, CEO, of ENIL said that the overall media industry faced volume pressure and a slight slowdown in the quarter. However, our new Gaana product launches coupled with strong performance in the digital and non-FCT segments helped ENIL achieve YoY revenue growth of 9%. As Gaana gains momentum and initial investments stabilize, we are confident that our strategic initiatives—along with our strong IP portfolio—will drive growth and resilience in the second half of the year within an evolving market landscape.

ENIL: (BSE Code: 532700) (NSE Code: ENIL)

Entertainment Network (India) Limited (ENIL) is a leading city-focused media company and is listed on BSE and NSE. Incorporated in June 1999, ENIL operates FM radio broadcasting stations in 63 Indian cities and is headquartered in Mumbai. The promoter of ENIL, Bennett, Coleman & Company Limited (BCCL), is the flagship company of The Times of India Group, which has a 175-year legacy and is one of India's leading media groups.