Radio City records 11 percent growth for third quarter

The jewellery industry saw growth of 44 percent year-on-year, an increase in the advertising spending. The pharmaceutical market grew by 15 percent and the auto industry recorded 26 percent growth compared to the previous year.

By  Storyboard18Feb 8, 2024 8:12 PM
Radio City records 11 percent growth for third quarter
In the third quarter, Radiocity retained the market share at 19 percent in their ad check markets. (Image source: CNBCTV18)

Music Broadcast Ltd, the registered name under which Radio City operates, announced its financial results for the quarter ended December 31, 2023, as well as for nine months collectively asper reports. For Q3 FY24 and nine-month period of FY24 revenues, growth of 11 percent is recorded to Rs 60.4 crore and 13 percent to Rs 165.9 crore. EBITDA during the same period grew by five percent (Rs 15.3 crore) and 25 percent (Rs 40.10 crore) respectively.

Ashit Kukian, CEO of Music Broadcast said, “Digital business has the potential to open new revenue streams, enhance operational efficiencies and enhance customer experiences in the long run. For the quarter our digital business has experienced a substantial 27 percent growth compared to the previous year, demonstrating our agility in meeting, shifting preferences and audience demands.”

The jewellery industry saw growth of 44 percent year-on-year, an increase in the advertising spending. The pharmaceutical market grew by 15 percent and the auto industry recorded 26 percent growth compared to the previous year.

The finance industry witnessed growth of nine percent, the government public service ad sector showed commendable growth at 22 percent and real estate advertising increased by 17 percent year-on-year.

“This sector specific insight empowers us to adjust our strategies and customise our services to meet the evolving needs of our clients,” added Kukian.

In the third quarter, Radiocity retained the market share at 19 percent in their ad check markets.

First Published on Feb 8, 2024 8:12 PM

More from Storyboard18

How it Works

Zee fails to secure shareholder nod for promoter warrant issue, raising questions over funding strategy

Zee fails to secure shareholder nod for promoter warrant issue, raising questions over funding strategy

How it Works

Pocket FM sues Kuku FM parent Mebigo Labs over alleged show title infringement; seeks Rs 85.7 cr in damages

Pocket FM sues Kuku FM parent Mebigo Labs over alleged show title infringement; seeks Rs 85.7 cr in damages

How it Works

TCS attrition rate holds steady at 13.8% in Q1 FY26, headcount stands at 613,069

TCS attrition rate holds steady at 13.8% in Q1 FY26, headcount stands at 613,069

How it Works

India's quick commerce market to clock Rs 2 lakh crore in 3 years: CareEdge report

India's quick commerce market to clock Rs 2 lakh crore in 3 years: CareEdge report

How it Works

BCCI rejects Champak Magazine's offer to settle IPL robotic dog trademark dispute

BCCI rejects Champak Magazine's offer to settle IPL robotic dog trademark dispute

How it Works

FM Phase-III batch III e-auction sees competitive start with five intense clock rounds completed on Day 1

FM Phase-III batch III e-auction sees competitive start with five intense clock rounds completed on Day 1

How it Works

The AI-generated illusion: Employers struggle to identify real candidates

The AI-generated illusion: Employers struggle to identify real candidates

How it Works

PIB flags deepfake video of PM Modi endorsing fake Rs 1.25 lakh a day scheme - Here's how to stay safe

PIB flags deepfake video of PM Modi endorsing fake Rs 1.25 lakh a day scheme - Here's how to stay safe