Music Broadcast loss widens to ₹53 cr on 26% revenue slump and second write-down
A ₹49 cr impairment, the second in two years, dragged the net loss wider even as the operating margin inched up on a much smaller revenue base.
— 2 earlier stories on Music Broadcast Ltd. →What's new
- Music Broadcast’s annual net loss widened to ₹53.3 cr from ₹33.8 cr as revenue slumped 26% to ₹174.4 cr.
- The company booked a ₹49 cr impairment charge on intangibles for the second year in a row.
- The board replaced its internal auditor with Ernst & Young and reconstituted its nomination committee.
Why this matters
This is a small radio business with shrinking top line and a pattern of writing down the same intangible assets. An 18% operating margin on a 26%-smaller revenue base is not growth, it’s just cost-cutting that couldn’t keep pace with the impairment. The auditor change adds another layer of housekeeping to a company that needs a new story.
What we're watching
- Whether the ₹49 cr impairment relates to the same assets as last year’s write-down.
- If revenue decline stabilises or continues to fall as ad budgets shift to digital.
- How the new auditor (Ernst & Young) characterises the company’s internal controls.
The full read
Music Broadcast is shrinking, and its losses are getting bigger. Revenue dropped 26% to ₹174.4 crore in FY26, and a ₹49 crore impairment charge, the second consecutive year of write-downs, pushed the net loss to ₹53.3 crore from ₹33.8 crore. The company’s operating margin technically improved to 18% from 17%, but that’s a margin on a 26% smaller revenue pool. The impairment charge alone is 90% of the previous year’s total loss. The business is not getting more profitable, it’s just getting smaller while still carrying assets it keeps having to write down. The board’s moves to change its internal auditor to Ernst & Young and reconstitute the nomination committee are standard governance. The real story is the continued inability to grow revenue and the recurring intangible asset problems.
Questions answered
- How much did Music Broadcast lose in FY26?
- The company reported a net loss of ₹53.3 crore for the year ended March 2026, up from a loss of ₹33.8 crore the prior year.
- What drove the wider loss?
- Operating revenue fell 26% to ₹174.4 crore, and the company recorded a ₹49 crore impairment charge on its intangible assets. That charge alone is nearly as large as the previous year’s total loss.
- Did operating performance improve at all?
- The operating margin edged up to 18% from 17%, but that’s on a much smaller revenue base. The margin improvement was overwhelmed by the impairment and the revenue decline.
- What changes did the board make?
- The board reconstituted its nomination and remuneration committee and appointed Ernst & Young to replace the company’s internal auditor.
Music Broadcast Ltd.
Latest quarter · Jun 2023
Strength & growth
Story so far
All notes on RADIOCITY →- 21 May 2026 · 6:16 PM IST Music Broadcast loss widens to ₹53 cr on 26% revenue slump and second write-down
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- 46d ago Music Broadcast net loss widens to ₹53 cr as revenue falls 26%