Music Broadcast posts strong recovery led by festive seasonRADIOCITY - 23 Change: 0.15 (0.65 %)
News: Revenue came in at Rs.59.8 crore, up 47% on a depressed base but still down 14% from pre-Covid levels. EBITDA margins were at 29.7% vs. ~11 % in base quarter. The company reported marginal profit of Rs.9 crore vs marginal PAT of Rs.0.1 crore in Q3FY21.
Views: The radio industry realisation remained depressed despite volumes picking post pandemic. The medium has also seen the impact of onslaught of growth of digital music streaming services across the globe. Pricing recovery will be key ahead.