ICICI Direct: ENIL’s Ad Recovery Key For Earnings Revival
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ICICI Direct Report
Entertainment Network India Ltd. reported a weak set of Q2 FY21 numbers.
Revenues came in at Rs 48.4 crore (down 58.1% YoY) with core radio revenue de-growth of approximately 57% YoY in Q2 FY21.
The solutions business witnessed 62.5% YoY decline in revenues. Reported Ebitda loss came in at Rs 6.3 crore against Ebitda of Rs 28 crore in Q2 FY20.
Although the company managed cost reduction across all fronts, significant fall in revenues led to operating loss.
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