Mumbai: Reliance Broadcast Network Limited has announced its un-audited financial results for the quarter ended December 31, 2012. The Company’s Board of Directors approved the financial results at its meeting here today.
The Company reported total income of Rs. 73.2 crore and reported the highest ever revenues for radio at Rs. 51.7 crore. The Company’s television business also delivered healthy growth with revenue at Rs. 11.7 crore. Both Radio and Television businesses consolidated their leadership positions delivering robust revenue growth and tight control over costs. EBIT excluding TV business was positive at Rs. 4.8 crore.
Commenting on the performance, Tarun Katial, Chief Executive Officer, Reliance Broadcast Network Limited said, “Reliance Broadcast has delivered impressive results in both radio and television businesses, with radio recording its highest ever revenue quarter. The television business has reported significant growth in revenue and reduction in carriage, reaping benefits from digitization, and a well crafted business strategy. We are on track to deliver improved margins, and build reach and value in the long term.”