Saregama Q1 revenue up 37% at Rs 105 crore
The company's PAT jumped 73% to Rs 27.3 crore from Rs 15.8 crore. Total expenses increased 15% to Rs 62.9 crore from Rs 54.8 crore
Music label Saregama's Q1 FY22 revenue jumped 37% YoY to Rs 105 crore from Rs 76.4 crore in Q1 FY21. Music revenue was up 32% at Rs 91.9 crore while TV & Films revenue almost doubled to Rs 11.9 crore.
The company's PAT jumped 73% to Rs 27.3 crore from Rs 15.8 crore. Total expenses increased 15% to Rs 62.9 crore from Rs 54.8 crore. PAT Margin for Q1 FY22 is 26% against Q1 FY21 PAT margin of 21%
During this quarter, Saregama Launched many non-film “Original” songs across Hindi, Bhojpuri, Gujarati, Punjabi and Tamil languages. Its latest song “Paani Paani” by Badshah trended at no. 1 position across all music streaming platforms, social media and YouTube. The company also acquired music rights of the next set of films of India’s biggest film directors, Sanjay Leela Bhansali and Shankar.
The second Covid-19 wave and the subsequent lockdowns adversely affected Carvaan sales for the quarter as all major Stores were closed, and e-commerce platforms were delivering only essential commodities. The company still managed to sell 45K units of Carvaan in Q1 FY22.
The company said that the podcast station's listenership continues to grow on Carvaan 2.0. It has also launched a new variant of Carvaan Mini Kids.
The Tamil serial ‘Roja’ continues to hold its leadership position on Sun TV. ‘Collar Bomb’, a Yoodlee film, recently got released in Disney +Hotstar, and was the most streamed content across OTT platforms in India during the week of 12th-18th July’21, according to Ormax Media.
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