India’s 94.3 Radio One – the radio subsidiary of Next MediaWorks Ltd, has declared its Q3 17-18 audited financial results.

Its revenue was up 4.3 percent to Rs 219.9 million in Q3 17-18 from Rs 210.9 million in Q3 16-17. 

EBIDTA was up 23.6 percent from Rs 50.2 million to Rs 62 million in the same period.

PBT was up 262 percent from a negative Rs 6.5 million in Q3 16-17 to a positive Rs 10.5 million in Q3 17-18.

Revenue was up 11.1 percent to Rs 219.9 million in Q3 17-18 from Rs 198 million in Q2 17-18. 

EBIDTA was up 108.1 percent from Rs 29.8 million in Q2 17-18 to Rs 62 million in Q3 17-18.

Vineet Singh Hukmani, MD & CEO , Next Radio Ltd said: “We are happy to see a turnaround in our Q3 17-18 numbers that ride on highly improved cost efficiencies and a consistent improvement in performance across all our radio markets. Furthermore, these are ‘pure radio growth numbers’ as Radio One is the only ‘targeted’ radio player that does not do on ground events/activations thereby protecting the full value of our on air inventory.  We are seeing a glimmer of positivity in the economy thanks to the rising manufacturing index numbers. We would like to believe that the problems faced by media due to demonetization, GST and RERA are behind us and that the radio industry will be able to post a 9-10% growth in the next financial year. We feel the radio industry needs to raise rates, given the exorbitant amount of inventory utilization and we are announcing an 18% average rate increase across our 7 markets effective March 1st 2018, to meet our increased investments into upscale audience engagement on air & online.”

94.3 Radio One is in its 11th year of operation and operates India’s only international radio format network in the three largest radio revenue markets of Delhi, Mumbai and Bangalore and the only upscale Hindi formats in Pune, Kolkata, Chennai & Ahmedabad.