Saregama India's Q3 net profit increases 37.8% to Rs 43.54 crore

Music label Saregama India on Wednesday reported a 37.78 per cent increase in its consolidated net profit to Rs 43.54 crore for the third quarter ended in December 2021.

It had posted a net profit of Rs 31.60 crore in the October-December quarter of the last fiscal, Saregama said in a regulatory filing.

Saregama's revenue from operations was up 12.27 per cent to Rs 150.34 crore during the period under review as against Rs 133.91 crore in the corresponding period of the previous fiscal.

Total expenses of the RP Sanjiv Goenka Group firm were at Rs 100.45 crore in Q3/FY 2021-22 as against Rs 95.94 crore, up 4.7 per cent.

Its revenue from music was at Rs 133.33 crore and Rs 15.58 crore from Film/TV serials.

During this quarter, Saregama acquired music rights of Karan Johar's next directorial film Rocky Rani Ki Prem Kahani starring Ranveer Singh and Alia Bhatt. The company released 165 film and non-film 'Original' songs across Hindi, Telugu, Tamil, Bhojpuri, Gujarati, Malayalam, Punjabi, Haryanvi, Bengali and Marathi languages. Company signed a global music licensing deal with short-format video app Chingari, it said.

The other highlight of the quarter was the use of our songs by brands like Nestle, Amazon, PhonePe, Vivo, Himalaya etc in their ad films, Saregama added.

The board of the company has also approved an interim dividend of Rs. 30 /- per share, which is 300 per cent.

Shares of Saregama India Ltd on Wednesday were trading at Rs 5,341 on BSE, up 0.13 per cent from the previous close.