 "Saregama India hits 52-week high post March quarter results")
Saregama India has surged nearly 10% to Rs 126, also its 52-week high on BSE, after reporting over two-fold jump in net profit at Rs 6.75 crore for the quarter ended March 31, 2014, on back of strong operational performance. The RP-Sanjiv Goenka Group Company had profit of Rs 2.32 crore in the same quarter last year.
Total operational income of the company during the quarter under review however, declined 9.6% y-o-y to Rs 43.35 crore. Total expenditure, too, almost halved to Rs 25.41 crore from Rs 48.85 crore, mainly due to lower employee and advertisement cost.
The stock opened at Rs 126 and touched a low of Rs 122 so far. A combined around 73,000 shares changed hands on the counter till 0945 hours on BSE and NSE.
Meanwhile, the stock has outperformed the market by appreciating 80% in past one month, compared to 7% rise in benchmark S&P BSE Sensex.
Total operational income of the company during the quarter under review however, declined 9.6% y-o-y to Rs 43.35 crore. Total expenditure, too, almost halved to Rs 25.41 crore from Rs 48.85 crore, mainly due to lower employee and advertisement cost.
The stock opened at Rs 126 and touched a low of Rs 122 so far. A combined around 73,000 shares changed hands on the counter till 0945 hours on BSE and NSE.
Meanwhile, the stock has outperformed the market by appreciating 80% in past one month, compared to 7% rise in benchmark S&P BSE Sensex.