Earnings Call Transcript
RADIOCITY · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Music Broadcast (Radio City) reported Q2 FY26 revenue of Rs. 37.8 crores and a weak operating EBITDA of Rs. 1.4 crores, with adjusted loss after tax of Rs. 4.6 crores (after NCRPS interest). H1 FY26 revenue was Rs. 87.2 crores with EBITDA of Rs. 9.3 crores. Management attributed the muted Q2 to advertisers deferring campaigns ahead of GST transition; momentum picked up post-September. The company announced a strategic realignment — 10-15% workforce cut, shift to an asset-light model (13 live stations, 26 virtual), and rationalisation of digital initiatives — expected to deliver Rs. 6-7 crores of quarterly cost savings starting Q3 FY26. Inventory utilisation improved to 74% (from 70% YoY), market share held at 18%, and alternate revenue streams contributed 34% of income. Cash reserves stood at Rs. 362 crores.
The Rs. 6-7 crores quarterly cost reduction should materially improve operating leverage and margins from Q3 onwards, supporting the path back to profitability. However, near-term revenue remains pressured by lower Tier 2/3 yields and rates still at 75-80% of pre-COVID levels, so the stock is likely to react to the cost-saving guidance and any positive festive-season ad uptick.