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ICICI Direct Report
Music Broadcast Ltd. reported a weak set of Q2 FY21 numbers. Revenues dipped sharply by 51.9% YoY to Rs 30.1 crore on lower ad volumes as well as yield.
Reduction in operating costs during the quarter was again a positive. However, Ebitda loss was at Rs 3 crore as the operating performance was impacted by lower topline.
Consequently, the company reported a net loss of Rs 6.5 crore against profit after tax of Rs 18.5 crore in Q2 FY20.
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