ENIL Q4 Review - Radio Weakness Continues: ICICI Direct
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ICICI Direct Report
Entertainment Network India Ltd. reported a weak set of Q4 FY21 numbers.
Revenue came in at Rs 99 crore (down 33.7% YoY) with core radio revenue falling 27.4% YoY.
The solutions business witnessed 42% decline YoY due to absence of on-ground activities.
However, Ebitda improved 4.5% YoY to Rs 24.0 crore led by cost reduction across employee and marketing expenses, which fell 25% and 56% YoY, respectively.
The company reported a loss of Rs 66 crore due to provision of impairment of Rs 97.5 crore for second/third frequency stations.
Adjusted profit after tax was at Rs 0.7 crore.
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