Radio Mirchi turnover up 58 pc, net profit 29 cr

New Delhi, Apr 21: Entertainment Network India Limited (ENIL), parent company of Radio Mirchi, today reported a profit of Rs 29 crore for the year ended 31 March, 2006, as against a loss of Rs 18 crore for the corresponding period last year.

The company's gross turnover increased by 57.69 per cent to Rs 120.19 crore for the same period from Rs 76.2 crore last year.

Net profit for the fourth quarter ended March 2006 stood at Rs 5.49 crore.

ENIL plans to increase its turnover from the additional radio stations to be set up this year. The company has already launched its radio stations in Hyderabad, Jaipur and Bangalore.

Speaking on the company's performance, ENIL CEO&MD A P Parigi said, ''ENIL is committed to improving its performance every fiscal and the first year's results after the IPO, reflect our commitment to continuously enhancing shareholder value.'' ENIL operates ten radio stations in Mumbai, Delhi, Kolkata, Chennai, Bangalore, Hyderabad Indore, Ahmedabad, Pune and Jaipur under the brand name Radio Mirchi.

UNI