Entertainment Network (India) Ltd’s Q2 FY-25 Revenues Rise 9% YoY, Driven by Strong Digital Growth

Mumbai: Entertainment Network (India) Ltd, the operator of India’s #1 FM radio channel Radio Mirchi, today announced its financial results for the Second Quarter and Half Year ended September 30, 2024.

Consolidated revenues for Q2FY25 reached ₹114 Crores, reflecting a 9% YoY increase. Domestic revenues for the quarter also grew by 9% YoY to ₹110 Crores, primarily driven by robust growth in Digital and Non-FCT segments. For the half year ending September 30, 2024, domestic revenues rose to ₹192 Crores, marking a 14.2% increase YoY.

In Q2FY25, EBITDA (excluding digital) totaled ₹22.5 Crores, representing an EBITDA margin of 23.2%. Profit Before Tax (PBT), excluding digital, rose to ₹11.2 Crores, up from ₹8.5 Crores in Q2FY24.

Including contributions from Gaana, ENIL achieved digital revenues of ₹15.4 Crores in Q2FY25, now representing 21.4% of total radio revenue, up from 10.8% in Q2FY24. This growth was fueled by product enhancements and increased platform adoption, even amid a recent price adjustment. Digital spending for the quarter stood at ₹12.8 Crores, with further cost optimization efforts underway.

The international market remains EBITDA positive, contributing ₹1.4 Crores this quarter. The balance sheet remains strong, with a cash balance of ₹391 Crores as of September 30, 2024.

Commenting on the results, Mr. Yatish Mehrishi, CEO, ENIL, said: “This quarter, the overall media industry faced volume pressures and modest deceleration. However, our new Gaana product launch, combined with strong performance in Digital and Non-FCT segments, allowed ENIL to achieve a YoY revenue growth of 9%. As Gaana gains traction and initial investments stabilize, we are confident that our strategic initiatives—alongside our strong IP portfolio—will drive growth and resilience in the second half of the year within an evolving market landscape.”