Entertainment Network (India) (ENIL) Q3 24/25 earnings summary

Executive summary

• Domestic revenue for Q3 FY25 reached INR 154 crores, up 9.7% year-on-year, driven by strong digital and non-FCT segment growth.

• Achieved consolidated revenue growth of 3.2% year-over-year in Q3FY25, with total income reaching ₹1,589 million.

• Digital business, led by Gaana, saw revenue rise 151% year-on-year to INR 15.4 crores, now accounting for 26% of total radio revenues.

• Non-FCT business posted strong gains, with EBITDA up 42.9% year-over-year in Q3FY25.

• The company is transitioning from a pure FM radio operator to a multimedia entertainment enterprise, with digital and event-based revenues gaining share.

Financial highlights

• Core business revenue (excluding digital) grew 3.2% year-on-year to INR 138 crores.

• Standalone EBITDA for Q3FY25 declined 34.7% year-over-year to ₹283.9 million.

• Consolidated PAT for Q3FY25 dropped 61.3% year-over-year to ₹92.6 million.

• Digital revenue for the quarter was ₹212.6 million, accounting for 26% of radio revenue.

• Cash balance as of December 31, 2024, was INR 344 crores.

Outlook and guidance

• Gaana is expected to break even in the next four to five quarters as more subscribers renew at higher pricing.

• Event and solutions business expected to outperform radio in Q4, with radio growth remaining muted due to market conditions.

• Management remains focused on digital expansion, profitability, shareholder value, and long-term sustainable growth.

• Forward-looking statements highlight risks from competition, regulatory changes, and economic conditions.