Reliance Broadcast Expects Revenue To Grow 30% Annually Over 5 Years

India's Reliance Broadcast Network Ltd. (533143.BY) said Wednesday it expects revenue to grow at an annual rate of 30% over the next five years.

Reliance Broadcast, part of Anil Ambani's Reliance Group, posted revenue of INR1.37 billion in the last fiscal year ended March 31.

The company expects the contribution of its radio business in total revenue to fall to 40% over the next five years from 70% now, Chief Financial Officer Asheesh Chatterjee told a news conference.

He expects the radio business to post a profit before interest and tax in the current fiscal year, compared with a loss last year.

Reliance Broadcast offers television channels through its joint venture with U.S.-based CBS Corp. (CBS) and FM radio stations under the 92.7 Big FM brand in India. It also runs an outdoor advertising business and a marketing unit.

-By Kenan Machado, Dow Jones Newswires; +91-9886929464; dhanya.thoppil@dowjones.com

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