Music Broadcast Limited (MBL)’s Radio City has reported 64% growth in EBITDA for Q3 of FY23.
The 9M FY23 top line stood at Rs 147.5 crore, a 20% growth YoY.
The company also maintained a strong Position with 19% volume market share.
Commenting on the results, Shailesh Gupta, Director said, “We are pleased to report healthy growth in EBITDA QoQ, with margins improving to 26.6% in Q3 FY 2023 compared to 18.3% in Q2 FY 2023. As per a recent research report – 8 in 10 are listening to Radio in Tier-II and Tier-III cities, which being our key growth market, gives a reason to be optimistic about the effectiveness and growth of our medium. In terms of market share, we stand at 19% as against 18% last quarter and having established a strong omni-channel presence we are in a good spot to leverage our deep networks and relationships and offer maximum value to our customers.”
