ICICI Direct:  Covid-19 Impacts ENIL’s Q1 Revenues Sharply
A man listens to the radio at a home in Kraska village, Rajasthan, India. (Photographer: Anindito Mukherjee/Bloomberg)

ICICI Direct: Covid-19 Impacts ENIL’s Q1 Revenues Sharply

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Entertainment Network India Ltd. reported a weak set of Q1 FY21 numbers. Revenues came in at Rs 38.5 crore (down 71% YoY) with core radio revenue de-growth of approximately 84% YoY in Q1 FY21.

The solutions business saw 40% YoY decline in revenues (60% decline without brand licensing revenue).

Reported Ebitda loss came in at Rs 25.9 crore against Ebitda gain of Rs 33.1 crore in Q1 FY20.

Although Entertainment Network managed a cost reduction across all fronts, negative operating leverage led to Ebitda loss. The company reported a net loss of Rs 37.9 crore against net profit of Rs 3.9 crore in Q1 FY20.

Click on the attachment to read the full report:

ICICI Direct ENIL Q1FY21 Result Update.pdf

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