Its EBITDA dropped to Rs 22.37 crore as against Rs 26 crore in the same period last year. Profit before tax (PBT) was Rs 14.50 crore compared to Rs 28.15 crore. Top-line for the quarter was Rs 69.78 Crores compared to Rs 81.87 crore. Expenditure remained flat at Rs 58.57 crore compared to Rs 58.33 crore.
In this quarter, it signed an agreement with Reliance Broadcast Network Ltd (RBNL) and the application was submitted to the ministry of information and broadcasting (MIB).
MBL director Apurva Purohit commented, “We had to face weak sentiments, slowing economic growth and poor consumption trends which directly impacted the overall advertising environment. Based on corporate results thus far, it is clear that the slowdown is broad-based and not confined to any specific sector.