Music Broadcast Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2022
January 24, 2023 at 07:01 am EST
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Music Broadcast Limited reported earnings results for the third quarter and nine months ended December 31, 2022. For the third quarter, the company reported sales was INR 546.71 million compared to INR 598.89 million a year ago. Revenue was INR 598.81 million compared to INR 637.7 million a year ago. Net loss was INR 40.94 million compared to INR 90.05 million a year ago. Basic loss per share from continuing operations was INR 0.12 compared to INR 0.26 a year ago. Diluted loss per share from continuing operations was INR 0.12 compared to INR 0.26 a year ago.
For the nine months, the company reported sales was INR 1,474.55 million compared to INR 1,224.08 million a year ago. Revenue was INR 1,619.89 million compared to INR 1,349.58 million a year ago. Net income was INR 42.75 million compared to net loss of INR 36.45 million a year ago. Basic income per share from continuing operations was INR 0.12 compared to Basic loss per share from continuing operations of INR 0.11 a year ago. Diluted income per share from continuing operations was INR 0.12 compared to Diluted loss per share from continuing operations of INR 0.11 a year ago.
Music Broadcast Limited is an India-based company, which is engaged in the business of operating private frequency modulation (FM) radio stations through the brand name, Radio City. Radio City is focused to be a one-stop shop for its advertisers by providing integrated solutions, including content production, event IPs, social media, commissioned podcasts, audio stories, influencer marketing, and various others. It is engaged in digital proactive collaborations with brands, such as Samsung, Tiger Balm, Super 4, Lifestyle, Maruti Suzuki-Ertiga, Canara Bank and T-series, among others. The Company provides humor-based IPs Babber Sher, Joke Studio and the IP Love Guru with a concept of love, relationships and romantic endeavors. South Ka Blockbuster, its interactive microsite, provides users with exclusive interviews, unseen photo galleries, interactive celebrity quizzes, and polls about popular South Indian superstars. It has approximately 39 stations in 12 states and one union territory.