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ICICI Direct Report
Music Broadcast Ltd. reported a subdued set of numbers for Q4 FY21.
Revenues dipped 7.4% YoY to Rs 42.5 crore due to continued erosion in yields.
The company reported 11% YoY growth in volumes in Q4 FY21, with yields lower in major stations by 20-25%.
Industry volume increased 4% YoY in the quarter.
Reported Ebitda was at Rs 2.9 crore for the quarter while Ebitda margin was 6.2%, down 300 basis points YoY compared to adjusted Ebitda margins for Q4 FY20 (Ebitda margin for the base quarter was 9.1% adjusted to one off expenses of Rs 9.5 crore).
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