Reliance Broadcast Network quarterly revenue rises 55 percent

August 16th, 2011 - 3:03 pm ICT by IANS  

Mumbai, Aug 16 (IANS) Reliance Broadcast Network Ltd (RBNL), part of the Anil Dhirubhai Ambani Group (ADAG), Tuesday said that its revenue increased 55 percent at Rs.80.7 crore for the quarter ended June 30.

The company’s radio broadcasting business reported a revenue growth of 22 percent at Rs.49.5 crore while its intellectual property business grew 33 percent to Rs.7 crore, RBNL said in a regulatory filing.

Sales from the out-of-home business increased 13 percent to Rs.5.1 crore, while television business production posted a top line of Rs.16.4 crore, it added.

During the April-June quarter, the company also signed a joint venture with leading European entertainment network, RTL group, to launch two thematic television channels in India through an equally owned joint venture company.

The channels will be launched this financial year.

“The radio broadcasting business will be a catalyst for future growth with phase 3 allowing it to further consolidate as it continues to be EBIT positive. We are further strengthening the television broadening business with the launch of BIG MAGIC which has created quite success for itself,” said Tarul Katiyal, chief executive officer, RBNL.

At the Bombay Stock Exchange the shares of the company were ruling 0.6 percent up at Rs.84.50

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