Reliance Broadcast announces Q1 results, mood upbeat

06 Aug,2013

By A Correspondent

 

There may still be some bracketed numbers out there, but the mood is upbeat at the Reliance Broadcast Network Limited offices over the earnings of the first quarter of the current fiscal year. The Reliance group company announced its financial results for the quarter ended June 30, 2013, reporting operating breakeven, with consolidated total income of Rs. 61.1 crore and consolidated EBITDA of Rs 0.9 crore.

 

The Company reported a 31% increase in revenues for radio at Rs. 47.3 crore in Q1 FY14 and is hopeful of gains from FM Phase 3.  Television business clocked 37% Y-o-Y growth with revenues at Rs 8.4 crore.

 

Tarun Katial

Commenting on the performance, Tarun Katial, Chief Executive Officer, Reliance Broadcast Network Limited said, “Reliance Broadcast Network has delivered robust performance, breaking even at the operating level. Radio has delivered the highest ever Q1 performance fortifying its position as the leading national network and both key businesses of radio and television are primed to benefit from the impending government reforms.”

 

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