ENIL Q2 net falls 70 pc at Rs 8 crore

Entertainment Network India Ltd (ENIL), which operates FM radio channel Radio Mirchi, today reported a 70.32 per cent decline in consolidated net profit at Rs 8.05 crore for the quarter ended September due to higher expenses.
The company had posted a net profit of Rs 27.13 crore for the corresponding quarter a year ago.
Its total income from operations was up 11.49 per cent during the quarter under review at Rs 129.64 crore as against Rs 116.27 crore in the corresponding period of the previous fiscal, ENIL said in a BSE filing.
Over expenses during the quarter stood at Rs 120.49 crore, up 36.05 per cent, as against Rs 88.56 crore in the year ago period.

Meanwhile, in a separate filing ENIL said its independent and non-executive Director B S Nagesh has resigned from the Board of Directors and all board committees of the company due to personal commitments and other preoccupations.
Shares of the company were trading 6.35 per cent lower at Rs 714 apiece on BSE in the morning trade.