Brief: Music Broadcast March-Qtr Net Profit Rises

Music Broadcast

27/05/2019 13:26

May 27 (Reuters) - India's Music Broadcast Ltd  MUSI.NS :
    * APPROVED PROPOSED INVESTMENT IN RELIANCE BROADCAST NETWORK
FOR
24% EQUITY STAKE FOR 2.02 BILLION RUPEES
    * APPROVED ACQUISITION OF ENTIRE STAKE HELD BY PROMOTERS OF
RELIANCE BROADCAST NETWORK BASIS ENTERPRISE VALUE OF 10.50
BILLION RUPEES
    * MARCH QUARTER NET PROFIT 183.5 MILLION RUPEES VERSUS 162.6
MILLION RUPEES YEAR AGO
    * MARCH QUARTER REVENUE FROM OPERATIONS 818.7 MILLION 
RUPEES
VERSUS 759.3 MILLION RUPEES YEAR AGO
    * ENTIRE RELIANCE BROADCAST NETWORK TRANSACTION IS EXPECTED
TO
CLOSE IN THE FIRST QUARTER OF FY2021

Source text: http://bit.ly/2JJlmB9
Further company coverage:  MUSI.NS 

 ((Reuters.Briefs@thomsonreuters.com;))