Net profit of Entertainment Network (India) declined 97.90% to Rs 0.19 crore in the quarter ended September 2019 as against Rs 9.05 crore during the previous quarter ended September 2018. Sales declined 8.46% to Rs 111.34 crore in the quarter ended September 2019 as against Rs 121.63 crore during the previous quarter ended September 2018.

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Net profit of Entertainment Network (India) declined 86.13% to Rs 1.24 crore in the quarter ended September 2019 as against Rs 8.94 crore during the previous quarter ended September 2018. Sales declined 9.82% to Rs 109.69 crore in the quarter ended September 2019 as against Rs 121.63 crore during the previous quarter ended September 2018.

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Entertainment Network (India) will hold a meeting of the Board of Directors of the Company on 11 November 2019.

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Entertainment Network (India) (ENI) has entered into Shareholders' Agreement with Global Entertainment Network (GENL), Marhaba FM and Salem Fahad S E Al-Naemi.

Purpose of entering into the agreement:
Marhaba FM holds a commercial radio broadcasting station license in respect of the FM frequency 89.6 in state of Qatar (License). Pursuant to the License, Marhaba FM is currently operating a private FM radio station at 89.6 FM in Qatar under the brand name “One FM”.
GENL is the wholly owned subsidiary of Marhaba FM. ENIL shall make anequity investment in the share capital of GENL. GENL shall conduct theBusiness in Qatar in accordance with the terms and conditions set out in the Agreement.
As part of the business, GENL shall, inter alia, provide services toMarhaba FM in connection with operating the Station under the brand name “MirchiOne” as per the terms and conditions agreed between GENL and Marhaba FM.

ENIL will hold 49% stake in share capital of GENL.

The Company shall also enter into the Brand and Content License Agreement with GENL, for using the Company's Trademarks and the Content on the radio broadcasting platform of Marhaba FM in relation to its business on the terms and conditions set out in the Agreement.

GENL's business shall include inter alia providing services in relation to operating, managing and controlling the operations of private FM radio stations, organising concerts and music awards, conducting digitaloperations/ music streaming, planning and executing events, designing television shows and undertaking other activities as mutually agreed between the parties, within the State of Qatar.

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