ENIL net profit jumps 20% to Rs 25.5 crore

Entertainment Network India Limited (ENIL), on Tuesday registered a 20 percent jump in its net profit on increased sales in radio and television revenues and reduction in cost structures.

ENIL, a BSE listed operator of Radio Mirchi, the country's biggest radio channel, posted a net profit of Rs 25.5 crore for the fourth quarter ended March 31, 2015.

The company had posted a net profit of Rs 21.2 crore for the corresponding quarter last year.

Prashant Panday, managing director and chief executive officer, ENIL, said: "Our sustained focus on cost management as well as better sales in our radio, TV properties, and activations businesses has helped reach the Rs 100 crore (annual) profit after tax milestone. We see the future even brighter with phase-3 auctions coming up next month. This opportunity to expand is coming after nearly 10 years and we plan to make the most of it."

Currently Mirchi remains the strongest brand in radio with a 33-35 percent revenue share and a lead across 32 cities in listenership.

The company registered a Rs 124.4-crore revenue for the fourth quarter, an 8.8 percent jump from last year. For the FY2014-15, the company reported a net profit of Rs 106 crore registering a 27 percent growth as against an annual net profit of Rs 83.4 crore for the previous financial year.

The total income for the firm grew at 14 percent for the financial year to Rs 438.5 crore. "The company's Board of Directors has recommended a dividend of Rs 1 per share," the company said in a statement.