Saregama Q1 revenue up 61% to Rs 169.3 crore
The company’s net profit has jumped 52% to Rs 41.4 crore against Rs 27.3 crore
Content company Saregama India's consolidated revenue for the quarter ended 30th June has jumped 61% to Rs 169.3 crore against Rs 105 crore in the same quarter of the last fiscal year. The growth was led by strong performance in the Films, Television serials, and Events segment part from Music.
The revenue from the Films, Television serials, and Events segment was up 224% YoY to Rs 38.6 crore. Music segment revenue was up 39% YoY to Rs 127.4 crore led by Carvaan sales volumes, which were up 118% YoY to 98,000 units while licencing revenues continued to be robust.
Operating Income before Content Charge, Interest, and Depreciation (OIBCID) was up 54% to Rs 64.7 crore compared to Rs 42.1 crore. Net profit jumped 52% to Rs 41.4 crore against Rs 27.3 crore.
The company expects Yoodlee films to clock Rs 100+ crore revenues in the next couple of years and expects a 25% revenues CAGR in the TV & films segment ahead.
Overall, the company released 77 new films and 109 non-film songs during the quarter, including 44 Hindi, 16 Tamil, 33 Telugu, 12 Malayalam, 15 Bengali, 21 Bhojpuri, and 29 Gujarati songs.
The company has also entered the events and talent management businesses whereby it will nurture the young talents and provide opportunities in big production projects subsequently banking on commission income the talent earns in the future.
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