Its net profit increased 25.4% in the March quarter to ₹75.4 crore compared to ₹60.1 crore in the same period last year. Revenue for the quarter grew by 19.4% to ₹287.4 crore from ₹240.8 crore in the fourth quarter of the previous fiscal.
The company’s earnings before interest, tax, depreciation and amortization (EBITDA) came in at ₹120.8 crore, surging 50% from the previous year’s ₹80.6 crore. Its margins expanded sharply to 42.05% from 33.47% in the year-ago period.In its investor presentation, Saregama India said it released over 1,200 film and non-film tracks spanning Hindi, Punjabi, Tamil, Malayalam, Telugu, Kannada, Punjabi and other languages in the fourth quarter. It added 33 artistes in the fourth quarter, taking the total roster to over 300 with an aggregate digital each of over 410 million.
“The company stands in a strong position with its balanced outlook towards investment and profitability,” Avarna Jain, vice-chairperson, Saregama India, said.
Shares of Saregama India Ltd. gained 18.4% after reporting their earnings to hit an intraday high of ₹396.7 apiece on Thursday. The stock is now trading 17% higher at ₹391.35. As a result of this upmove, the stock has turned positive on a year-to-date basis.
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