Saregama India Q4 net profit down 10.3% to Rs 14.8 cr; revenue slips 14.27%

Music label Saregama India Ltd on Friday reported a 10.33 per cent decline in consolidated net profit for the fourth quarter ended March 2020 at Rs 14.84 crore.

The company had posted a net profit of Rs 16.55 crore in January-March quarter of previous fiscal, Saregama India said in a regulatory filing.

Revenue from operations declined 14.27 per cent to Rs 108.66 crore during the quarter under review as against Rs 126.75 crore in the corresponding period of the previous fiscal.

Saregama's total expenses fell 20.47 per cent to Rs 89.71 crore in March quarter as against Rs 112.81 crore a year ago.

Revenue from music stood at Rs 91.74 crore during the quarter under review, while that from films/television serials was at Rs 16.45 crore.

For fiscal year 2019-20,Saregama's net profit declined 19.93 per cent to Rs 43.50 crore. It stood at Rs 54.33 crore in the previous year.

Its revenue from operations in 2019-20 was at Rs 521.47 crore, down 4.26 per cent from Rs 544.72 crore in 2018-19.

Shares of Saregama India Ltd on Friday closed 10 per cent higher at Rs 440.75 on the BSE.