Broadcasting & Cable TV company Entertainment Network (India) announced Q3FY24 results:<br><br>Financial Performance:<br>- Total revenue for Q3FY24 is reported at Rs 140 crore, marking a significant year-over-year growth of 21%.<br>- EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) stands at Rs 44.3 crore, reflecting a healthy margin of 33% and a year-over-year increase of 36.4%.<br><br>Operational Highlights:<br>- Strong demand in Free Commercial Time (FCT) led by high retail activity contributed sizably to the revenue growth during the quarter.<br>- Non-FCT revenues witnessed a surge with a notable growth of 45% year-over-year.<br><br>Digital and International Business:<br>- The Digital segment added Rs 11.4 crore to the total revenue, comprising 13% of the radio revenues.<br>- An investment of Rs 6.2 crore was made to enhance ENIL's digital capabilities.<br>- International business reported stable and profitable operations with an EBITDA of over Rs 2.3 crore for the quarter.<br><br>Gaana Acquisition:<br>- The completion of the Gaana deal is a pivotal step in strengthening ENIL's digital offerings and turning around its digital story.<br><br>Balance Sheet and Liquidity:<br>- The Balance sheet as of December 31, 2023, shows Cash and cash equivalents amounting to Rs 262 crore.<br><br>Commenting on the developments, Yatish Mehrishi, CEO, ENIL, said: “I am thrilled to report a strong quarter with increased radioactivity and a fantastic festive season. Our revenue growth has outpaced the industry, demonstrating our leadership. Over the past two years, we've seen consistent revenue growth, doubling the industry average and significantly improving profitability. As our current businesses gain momentum, we're dedicated to future investments. The addition of Gaana is a crucial step in our digital journey, aiming to offer high-quality audio content on a unified platform. Looking ahead, the synergy between our brands, Mirchi and Gaana, along with our industry experience, positions ENIL as a key player in India’s audio entertainment space.”<br><br>Result PDF