MUMBAI: Radio Mirchi which is a part of Entertainment Network (India) Limited (ENIL) has appointed Vivek Modi to the post of North cluster head and Sarvmeet Oberoi IPS (sponsorship) head.

In his new role, Modi will be responsible for driving the radio station?s growth in its target region. He joined Radio Mirchi in 2011 as a cluster head - east. Prior to Radio Mirchi, he has worked with J Walter Thompson as account director, ABP as brand manager and Vodafone as head - marketing communication. He will be replacing Sachin Tagra.

Oberoi has been with Radio Mirchi since seven years. He was a part of Mirchi Mobile - a service enabling Mirchi listeners in a particular location to listen to broadcast of another location of their choice, using the mobile platform. Oberoi will be looking after the growth of intellectual properties.
 
EVP HR and marketing Sujata Bhatt said, "Vivek and Sarvee are seasoned professionals and will add lot of value in their new roles. We wish both of them the very best."

ENIL launched its first radio station in 2001 in Indore and now the channel is available in 32 cities across India.

MUMBAI: Entertainment Network India Limited?s (ENIL) net profit for fiscal third quarter remained flat at Rs 187 million against a profit of Rs 182 million reported in the year-ago period.

ENIL, which owns and operates FM radio station Radio Mirchi, saw its revenues for the quarter grow by 15.6 per cent to Rs 874 million from Rs 753.9 million a year ago.

The company said its Ebitda for the quarter stood at Rs 302 million.

Expenses for the quarter also jumped to Rs 653.5 million from Rs 527.7 million due to increase in marketing and other expenses.

ENIL ED & CEO Prashant Panday said, "The festive season boosted revenue growth this quarter. The elections in Gujarat also contributed to growth. The advertising environment, however , remains challenging. We remain optimistic that with renewed governmental efforts at spurring growth, the advertising industry should lift off. We remain optimistic that Phase-3 roll outs will begin soon. The government has said it is top priority for them."

MUMBAI: Times of India group?s Entertainment Network (India) Ltd, which operates FM radio Radio Mirchi, has seen its net profit rise 14.44 per cent to Rs 103 million in the second quarter ended 30 September from Rs 90 million a year earlier.

ENIL?s revenues for the second quarter stood at Rs 770 million, compared to Rs 691 million in the corresponding period last year. The company?s Ebitda stood at Rs 189 million and the margin was 24.5 per cent.

ENIL said its consolidated profit after tax was Rs 105 million, up 26.2 per cent.

Revenues for the six months ended 30 September grew by 10.3 per cent to Rs 1.46 billion from a year earlier, while net profit rose 24.6 per cent to Rs 233 million from a year earlier.

Commenting on the results, ENIL ED and CEO Prashant Panday said the company?s cash position at Rs 2.69 billion remains strong and is gearing up for phase 3 of roll out.

"The media sector continues to be under pressure due to the poor economic scenario, but within this, the radio sector has reported double digit growth. Mirchi has retained its 35-36 per cent revenue market share reporting a double digit revenue growth this quarter also. Overall, the company?s cash position remains strong with Rs.269 crores (Rs 2.69 billion) in liquid form. We are now eagerly awaiting the imminent roll-out of Phase-3 (of FM radio licences)," Panday said.

MUMBAI: Radio Mirchi, Entertainment Network India Ltd?s (ENIL) FM radio business, is eyeing a turnover jump of 10 per cent this fiscal amid a soft advertising climate while margins could come under pressure due to increase in marketing spends.

The airtime sales on the FM radio channel will show sluggish growth due to external factors but Radio Mirchi?s innovative ad solutions will trigger the growth.

Radio Mirchi will explore overseas opportunities by licensing its brand. It will, however, not get into equity deals or be involved in operations in international markets.

The company is sitting on a cash pile of Rs 2.2 billion but will invest in Phase 111 as it sees a bright growth opportunity then.

The pressure on margins due to a rise in marketing expenses will push the levels to around 30 per cent this fiscal.

For the fiscal ended 31 March 2012, Radio Mirchi brand, has posted a net profit (standalone) of Rs 565.09 million, up 8.24 per cent, compared to Rs 522.09 million a year ago.

Income from operations saw a 9.02 per cent jump to Rs 3 billion, as against Rs 2.76 billion a year ago. Expenses stood at Rs 2.33 billion, from Rs 2.23 billion.

Radio Mirchi?s profit (from operations before other income, finance cost and exceptional items) was at Rs 682.26 million, up from Rs 573.66 million a year ago.

Meanwhile, for the three-month period ended 31 March, the company has posted a net profit of Rs 196.17 million, up from a net profit of Rs 180.33 million it had posted in the corresponding quarter of the previous fiscal.

Income from operations was up 14.63 per cent to Rs 932.78 million in the quarter, from Rs 813.68 million.