Music Broadcast, a Jagran group firm that runs Radio City FM channel, today reported a 42.26 per cent rise in its net profit at Rs 10.84 crore for the quarter ended June 30.
Its net profit stood at Rs 7.62 crore in the year-ago period, the company said in a statement.
Total income during the quarter under review stood at Rs 74.98 crore as against Rs 63.90 crore in the corresponding period last fiscal.
"The performance of the company for the quarter has been better than expectation. We have been able to deliver margins of around 32 per cent and show growth of 16 per cent despite additional operating cost of the new stations.
"This is because of rate hike in the legacy stations as well as better than expected utilisation in the new markets," Music Broadcast Director Apurva Purohit said.
"Our strategy of profitable growth and not bidding high costs for acquisition in Phase III along with maintaining lowest cost per million is delivering results. Going ahead in the future I see better utilisation in our new stations supported by increased utilisation and price hike in our legacy stations," she added.
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