The ratings appear to have been helped by the very public debacle surrounding former breakfast DJ Chris Evans's marriage to teen pop star Billie Piper and his subsequent departure from his breakfast show slot. SMG also ran an advertising campaign during this quarter.
Virgin's shares closed at 176.5p in London yesterday and remained unchanged this morning.
The latest quarterly figures from Rajar for the three months to June 30, saw Virgin's mainstream rival BBC Radio 1 lose 0.9% of market share to 11.25m listeners.
BBC Radio's ratings goliath Radio 2 continued to strengthen its grip on its position as the UK's most-popular station, adding 883,000 listeners and bringing its total to 11.75m.
Kelvin MacKenzie's TalkSport saw the number of hours listeners tuned into the sport-only station increase by 10.7%, an increase bettered only by Radio 2.
GWR's Classic FM's audience figures made it past the 7,000 mark while listening hours increased by 1,000 to 47,000.
London radio station Capital increased its audience share from 10.2% to 11.1% and Chris Tarrant's long-running morning show increased its share to 12.6% of the market.