Music Broadcast (MBL) reported a weak set of numbers impacted by a steep decline in government & event segment. Revenues came in | 62.5 crore (decline of 22.5% YoY), much below our estimate of 10% decline as government and radio led events witnessed a steep decline of ~55% while non-government segment declined 6%. EBITDA came in at | 18.5 crore, down 30% YoY, with margin of 29.6%, down 350 bps, due to lower revenues. PBT at | 12.2 crore, witnessed a steep decline of 45% YoY. However, it reported profit of | 18.5 crore vs. our expectation of | 11.2 crore,...