As per company’s disclosure, it is in the business of radio broadcasting (BIG FM) and had sold the TV broadcast business to ZEEL in November 2016 for a price consideration of Rs 298.4 crore.
The company faced a loss at both the PBT as well as PAT levels in FY19. However, the net loss reduced from Rs. 132.43 crore in FY18 to Rs. 108.63 crore in FY19 mostly on account of the extraordinary expense of Rs. 22.45 crore incurred in FY18 against extraordinary income of Rs. 1.94 crore in FY19.
Also, it has been incurring cash losses for the last few years with a cash loss of Rs. 74.09 crore in FY19 as against cash loss of Rs. 89.36 crore in FY18. In Q1FY20 RBNL incurred a net loss of Rs. 26.45 crore over the total operating revenue of Rs. 64 crore. For radio industry H1 is generally a lean period and H2 is peak period.
Its total operating income stood at Rs. 313.91 crore in FY19 as compared to Rs. 318.27 crore in FY18.
The company reported continuous losses over the past few years have eroded the net worth of the company. RBNL reported a negative net worth over the past few years resulting in a negative net worth of Rs. 1116.27 crore as on 31st March 2019.