ICICI Direct: Music Broadcast Posts Weak Q2 Performance; Bonus Issue Key Highlight  
Inside a radio broadcast studio. (Source: smorazanm/Pixabay)

ICICI Direct: Music Broadcast Posts Weak Q2 Performance; Bonus Issue Key Highlight  

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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, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Music Broadcast Ltd. reported a weak set of Q2 FY21 numbers. Revenues dipped sharply by 51.9% YoY to Rs 30.1 crore on lower ad volumes as well as yield.

Reduction in operating costs during the quarter was again a positive. However, Ebitda loss was at Rs 3 crore as the operating performance was impacted by lower topline.

Consequently, the company reported a net loss of Rs 6.5 crore against profit after tax of Rs 18.5 crore in Q2 FY20.

Click on the attachment to read the full report:

ICICI Direct Music Broadcast Q2FY21 Result Update.pdf

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