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