Earnings Call Transcript on the financial performance of the Company for the quarter and half year ended September 30, 2026.

October 30, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, 5th Floor Corporate Relationship Department Plot No. C/1, G Block; Bandra (East) Phiroze Jeejeebhoy Towers Mumbai 400 051 Dalal Street; Fort, Mumbai 400 001 Scrip Code I RADIOCITY Scrip Code I 540366 ISIN I INE919I01024 ISIN I INE919I01024 Subject: Transcript of Earnings Call for the Un-Audited Financial Results for the second quarter and half year ended on September 30, 2026 Dear Sir/Ma’am In continuation to our letter dated October 21, 2026, and October 27, 2026, and pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Part A of Schedule III of the Listing Regulation, the Transcript of Earnings Call held on Tuesday, October 27, 2026, at 12:00 Noon (IST) for discussing financial performance of the Company of the second quarter and half year ended on September 30, 2026, is enclosed herewith. The aforesaid Transcript is also available on the website of the Company https://www.radiocity.in Kindly take the above on your record. Yours Faithfully For Music Broadcast Limited Arpita Kapoor Company Secretary and Compliance Officer Encl: As above RADIO CITV SCHOOL Of' 'I) BROADCASTinG tu....e-,J,"'i"'< CIN: L64200MH1999PLC137729, Music Broadcast Limited | Register office: 5th Floor, RNA Corporate Park, Off Western Express Highway, Kalanagar, Bandra (E), Mumbai - 400051. | Tel: +91 22 66969100 | Fax: +91 22 26429113 | Website: www. radiocity.in FM BOLE TOH RadioCitr)I A JAGRAN INITIATIVE “Music Broadcast Limited Q2 FY27 Earnings Conference Call” October 27, 2026 Q A JAGRAN INITIATIVE MANAGEMENT: MR. ABRAHAM THOMAS – CHIEF EXECUTIVE OFFICER -- MUSIC BROADCAST LIMITED MR. RAJIV SHAH – CHIEF FINANCIAL OFFICER – MUSIC BROADCAST LIMITED Page 1 of 6 Music Broadcast Limited October 27, 2026 Q A JAGRAN INITIATIVE Moderator: Ladies and gentlemen, good day, and welcome to Music Broadcast Limited Q2 FY27 Earnings Conference Call. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touch-tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Abraham Thomas from Music Broadcast Limited. Thank you, and over to you, sir. Abraham Thomas: Good afternoon, everyone, and welcome to the quarter 2 FY27 Earnings Conference Call of Music Broadcast Limited. Joining me today is Mr. Rajiv Shah, our Chief Financial Officer. The second quarter reflects the continued benefits of the strategic and operational initiatives undertaken by the company, while revenue moderated sequentially in a softer operating due to earlier start of festive last year, we remain focused on cost discipline, operational efficiency and strengthening profitability. Our focus remains on building a resilient business model, improving monetization across our platforms and sustaining the benefits of the structural measures implemented over the past few quarters. As highlighted in our previous interactions, the company continued to focus on four key priorities: strengthening monetization across Radio and Radio Plus platforms, enhancing advertiser engagement through integrated offerings, delivering sustainable and profitable growth, driving operational efficiency and cost efficiency. Radio City continued to pursue diversified revenue opportunities through branded content, events, sponsorships, digital solutions, and integrated advertiser offerings. Our focus remains on deepening relationships with key clients, increasing wallet share and improving monetization across platforms. The financial performance for quarter 2 FY27. Revenue for quarter 2 FY27 stood at INR41 crores compared to INR37.8 crores in Q2 FY26, representing a year-on-year growth of approximately 8%. Sequentially, the revenue moderated to INR44.5 crores in quarter 1 FY27. The company continued to benefit from disciplined cost management and operational efficiency. Total expenses stood at INR34.8 crores compared to INR43.3 crores in quarter 2 FY26, a reduction of approximately 20% year-on-year. As a result, operating profit before tax stood at INR1.5 crores compared with an operating loss of INR13.3 crores in Q2 FY26. Reported profit before tax stood at INR8.9 crores compared to a loss of INR6.4 crores in quarter 2 FY26. H1 FY27 performance. For the first half of FY27, revenue stood at INR85.5 crores compared to INR87.2 crores in H1, representing a year-on-year decline of approximately 2%. Total expenses stood at INR70.4 crores compared to INR91.7 crores in H1 FY26, a reduction of approximately 23%. Page 2 of 6 Music Broadcast Limited October 27, 2026 Q A JAGRAN INITIATIVE Operating profit before tax stood at INR5.6 crores compared with an operating loss of INR20.2 crores in H1 FY26. Reported profit before tax stood at INR21.2 crores compared with a loss of INR6.3 crores in H1 FY26. The first half performance reflects the cumulative impact of cost optimization and improved operating leverage. Going forward, our focus will be on translating this stronger operating foundation into sustainable revenue growth. The advertising environment continues to require a measured and client-focused approach. We remain focused on leveraging Radio City's strong regional presence, established advertiser relationships, and integrated media capabilities to capture available opportunities. Our priorities include strengthening core radio monetization, increasing engagement with strategic advertisers, expanding non-FCT revenues, and building further traction in branded content, events, sponsorships and digital integrations. We will continue to maintain financial discipline and operational agility while pursuing revenue opportunities. Our growth remains to sustain -- our objective remains to sustain profitability, strengthen operating leverage and create long-term value for all stakeholders. With this, I open the floor for questions and answers. Moderator: Thank you very much, sir. We will now begin the question-and-answer session. The first question is from the line of Meghana Saradha, an Individual Investor. Meghana Saradha: Yes. I have a couple of questions. I wanted to know the FCT and NFCT split for the quarter. Rajiv Shah: NFCT -- 80/20 is the split right now for the quarter. Meghana Saradha: Okay. Okay. What was your market share this quarter? Rajiv Shah: 24%. Meghana Saradha: Okay. And how have you been able to curtail employee costs and other expenses this quarter versus the previous quarter? Rajiv Shah: Can you be a little louder on the third question? Meghana Saradha: How have you been able to save up on employee cost and other expenses this quarter? Rajiv Shah: So, if you see, we are basically INR1 crores -- INR50 lakhs less than the quarter 1 in the total cost, around INR1 crores. That is what we have saved compared to Q1. Meghana Saradha: And other expenses? Rajiv Shah: Total, I said. The employee expenses actually have gone up by INR60 lakhs, but the other expenses saving is INR1.6 crores. So roughly, we have saved INR1 crores on the total expenses for the quarter. Page 3 of 6 Music Broadcast Limited October 27, 2026 Q A JAGRAN INITIATIVE Moderator: The next question is from the line of Ronak Shah from Equirus Securities. Ronak Shah: Yes. Sir, my question is regarding the non-FCT front. So the regions wherein you are strongly available, we are expecting a larger concert kind of thing plus larger events likely to happen. So are we expecting any participation -- larger participation which can accelerate non-FCT revenue into the second half? Abraham Thomas: Yes, we are actually in the process of doing a lot of experiential activities in the Tier 2, Tier 3 markets. We see a lot of traction there. We also have a strong p [Showing first 8,000 characters — download PDF for full document]