Management Participants

The call was led by Mr. Abraham Thomas, Chief Executive Officer, and Mr. Rajiv Shah, Chief Financial Officer.

Key Financial Performance (Q2 FY27)

  • Revenue: Stood at INR 41.0 crores, compared to INR 37.8 crores in Q2 FY26, representing a year-on-year growth of approximately 8%.
  • Sequential Revenue: Moderated from INR 44.5 crores in Q1 FY27.
  • Total Expenses: Stood at INR 34.8 crores, compared to INR 43.3 crores in Q2 FY26, a reduction of approximately 20% year-on-year.
  • Operating Profit Before Tax: Stood at INR 1.5 crores, compared to an operating loss of INR 13.3 crores in Q2 FY26.
  • Reported Profit Before Tax (PBT): Stood at INR 8.9 crores, compared to a loss of INR 6.4 crores in Q2 FY26.

Key Financial Performance (H1 FY27)

  • Revenue: Stood at INR 85.5 crores, compared to INR 87.2 crores in H1 FY26, a decline of approximately 2% year-on-year.
  • Total Expenses: Stood at INR 70.4 crores, compared to INR 91.7 crores in H1 FY26, a reduction of approximately 23%.
  • Operating Profit Before Tax: Stood at INR 5.6 crores, compared to an operating loss of INR 20.2 crores in H1 FY26.
  • Reported Profit Before Tax (PBT): Stood at INR 21.2 crores, compared to a loss of INR 6.3 crores in H1 FY26.

Management Commentary and Strategic Priorities

Management attributed the improved profitability to disciplined cost management, operational efficiency, and the benefits of structural measures implemented over past quarters. The company's stated focus remains on four key priorities:

1. Strengthening monetization across Radio and Radio Plus platforms.

2. Enhancing advertiser engagement through integrated offerings.

3. Delivering sustainable and profitable growth.

4. Driving operational and cost efficiency.

The company continues to pursue diversified revenue through branded content, events, sponsorships, and digital solutions.

Question and Answer Highlights

  • Revenue Split: The split between FCT (Fixed Charge Timetable) and non-FCT revenue for the quarter was 80%/20%.
  • Market Share: The company's market share for the quarter was stated to be 24%.
  • Cost Savings: Total expenses were reduced by INR 1.0 crore sequentially from Q1 FY27. Employee expenses increased by INR 0.6 crores, but other expenses saw a saving of INR 1.6 crores.
  • Non-FCT Growth: Management is exploring concerts and events in Tier 2/3 markets to leverage its strong regional presence and grow the non-FCT revenue stream, which currently contributes 18-20% of total revenue.
  • Cash Position: The company's net cash on book is INR 283 crores.
  • Capital Return: Management stated there are no current plans for a buyback or dividend.
  • Outlook: Management expressed hope for a better second half due to the festive season but refrained from providing specific guidance for FY27 or beyond due to market and geopolitical uncertainty. They indicated the current level of profitability is expected to continue.

Conclusion

Management concluded that Q2 FY27 reflects a significant year-on-year improvement in profitability supported by cost management. The company remains committed to enhancing monetization, deepening advertiser relationships, and expanding diversified revenue streams.