Saregama India Q2 net profit up 36 pc to Rs 46 cr; revenue rises 30 pc to Rs 189 cr | Biden News

Saregama India Q2 net profit up 36 pc to Rs 46 cr;  revenue rises 30 pc to Rs 189 cr

 | Biden News

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Music label Saregama India Ltd on Monday reported a 36.42 percent rise in its consolidated net profit to Rs 46.11 crore for the second quarter ended September 30, 2022.

It posted a net profit of Rs 33.80 crore in the July-September quarter last fiscal, Saregama said in a regulatory filing.

Saregama’s total revenue grew by 30.37 percent to Rs 189.16 crore during the quarter under review against Rs 145.09 crore in the corresponding period of the previous fiscal.

”The Company posted the highest operating Income for the quarter to reach Rs 189.2 crore in Q2FY23, up 30 percent YoY,” Saregama said in its earnings statement.

Its revenue from the music segment stood at Rs 150.90 crore and Rs 34.08 crore from films, TV serials and events.

The publication segment contributed 4.18 crores.

Total expenses of the RP Sanjiv Goenka Group company stood at Rs 138.50 crore, up 32 percent from Rs 104.91 crore in the year-ago period.

Vice President of Saregama India Avarna Jain said, “Saregama’s strategy of investing in high-quality new IP across audio and video has begun to pay rich dividends. And this is expected to accelerate with the increasing digitization across social strata in India.” Shares of Saregama India Ltd on Monday afternoon was trading at Rs 376.90 on BSE, up 0.17 percent from the previous close.

(This story has not been edited by Devdiscourse staff and is automatically generated from a syndicated feed.)

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