Entertainment Network (India) Limited (ENIL) informed the exchanges Thursday that the company’s FM Radio broadcasting operations are not materially impacted due to Covid-19. However, the company’s on-ground activities and the revenue from the FM Radio Broadcasting business have been adversely impacted due to Covid-19. Consequently, the company does not anticipate an early normalization of its revenues and margins.

ENIL is predominantly dependent on revenues from advertising. The company’s management expects the revenues to remain below normal levels in the near future with a potential for unpredictable disruptions based on the evolving situation and the applicable government guidelines and permissions.

With the lifting of the lockdown restrictions, stations of the company have resumed partial functioning in the non-containment zones, after establishing thorough safety standards and protocols.

The company has maintained reasonable level of liquidity position and banking facilities to service current level of financial obligations. The company has not defaulted on any financial obligations. However, the company’s operating cash flow and profitability have been severely affected. The company anticipates delays in collection of receivables from clients.

“We wish to inform you that in compliance with the directives issued by the Central Government, State Governments and local administration relating to the outbreak of the Coronavirus (Covid-19) pandemic, the company has implemented a work advisory, which includes ‘work from home policy’, travel restrictions, and many other measures,” company said.

Entertainment Network (India) Ltd ended at Rs155.90 down by Rs2.4 or 1.52% from its previous closing of Rs158.30 on the BSE.