As per management, the current low growth is largely due to weak retail/local, real estate and government advertisements, which is witnessing slow recovery post demonetization/GST. Management also reaffirmed that over the next three years, company should grow revenues at 13-15 % CAGR and PAT at 20-25 % led by steep operating leverage coming from 90 % fixed cost.b.)TV players have seen swift recovery from demonetization/GST due to FMCG companies, which contribute less than 10 % to the radio sector v/s over 50 % for the TV industry. However, radio has not lost its sheen in India where listenership remains steady at 54mins for 5.1days/week-radio is viable for advertisers due to its reach and also because it's a cost efficient medium.