Music Broadcast (MBL) reported a subdued set of numbers for Q4FY21. Revenues dipped 7.4% YoY to | 42.5 crore due to continued erosion in yields. The company reported 11% YoY growth in volumes in Q4FY21, with yields lower in major stations by 20-25%. Industry volume increased 4% YoY in the quarter. Reported EBITDA was at | 2.9 crore for the quarter while EBITDA margin was 6.2%, down 300 bps YoY compared to adjusted EBITDA margins for Q4FY20 (EBITDA margin for the base quarter was 9.1% adjusted to one off expenses of | 9.5 crore). Consequently, the company reported...