News: Music Broadcast reported strong numbers on depressed base, albeit way below pre-covid. Revenue came in at Rs 44.1 crore, up 116% YoY. EBITDA was at ~Rs 4.3 crore, with margins of 9.3%, vs. loss in base quarters. The company just broke even with zero PAT. We highlight that revenues and EBITDA were 37% and 81% below precovid levels.
View: The radio industry realisation has remain depressed. The medium has also seen the impact of onslaught of growth of digital music streaming services across the countries. Pricing recovery will be key ahead.
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