Q3 2025 Music Broadcast Ltd Earnings Call Transcript
Key Points
- Music Broadcast Ltd (NSE:RADIOCITY) reported an 8% year-on-year revenue growth for Q3 FY25, reaching INR65 crores.
- EBITDA grew by 15% year-on-year, with margins expanding by 160 basis points to 27%.
- The digital segment achieved a remarkable 53% year-on-year growth, contributing 12% to total revenue.
- Radio City maintained a strong market share of 19% and is the top choice for advertisers, with 40% of the industry's client base.
- The company has a robust liquidity position with cash reserves of INR342 crores, providing flexibility for future opportunities.
- The effective rate for advertising remains stagnant at 75% of pre-COVID levels, impacting profitability.
- High-yield markets like Bombay, Delhi, and Mangalore are not yet saturated, limiting the ability to increase advertising rates.
- Employee costs have increased significantly, affecting operating margins, due to investments in digital initiatives.
- The company faces ongoing litigation in the Madras High Court, with potential financial implications if the outcome is unfavorable.
- The radio industry is experiencing challenges with inventory utilization, affecting the ability to increase pricing.
Ladies and gentlemen, good day. And welcome to the Music Broadcast Limited Q3 FY25 earnings conference call. (Operator Instructions). Please note that this conference is being recorded.
I now hand the conference over to Mr. Ashit Kukian, CEO; from Music Broadcast Limited. Thank you, and over to you.
Thank you. Good afternoon, everyone and a very warm welcome to the Q3 FY25 earnings conference call of Music Broadcast Limited. Joining me on the call is Mr. Rajiv Shah, from our IR team and our investor relations partner, Strategic Growth Advisors. I'm happy to share our company's outstanding performance of Q3 FY25. For the quarter revenue grew 8% year-on-year reaching INR65 crores. While EBITDA saw solid growth of 15% rising to INR18 crores.
Our EBITA margin expanded by 160 bps year-on-year to 27% and for the nine-month period, revenue increased 8% year on year to INR180 crores. While EBITDA [rose] 7% reaching INR43 crores, with an EBITDA margin of 24%. These results were driven by good
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