Reliance posts strongest quarter

Mumbai – Reliance Broadcast Network Ltd. (RBNL), India’s youngest multimedia entertainment conglomerates, announced its most impressive result ever for a fiscal quarter, across all its business operations.

In the quarter ending June 2011 vs. June 2010, RBNL reported revenues of Rs. 80.7 Cr, up by 55% - television production business posted top line of Rs. 16.4 Cr ; intellectual property business revenues grew 33% to Rs. 7 Cr; Out-Of-Home business posted a growth of 13% to Rs. 5.1 Cr growth in sales performance; and radio broadcasting business reported revenue of Rs. 49.5 Cr, the highest among all of RBNL’s media business operations, posting a growth of 22%.

This quarter saw the company sign a joint venture with the leading European Entertainment Network, RTL Group, part of Bertelsmann AG to launch two thematic television channels in India through an equally owned joint venture company. The channels will launch in this fiscal.