Saregama India tanks 20% on Q1 net loss, stock hits fresh 52-week low

The stock has fallen below its previous low of Rs 462 touched on October 9, 2018, on the BSE in intra-day trade

Saregama India shares were locked in lower circuit of 20 per cent at Rs 406, also its 52-week low on the BSE on Wednesday, after the company reported consolidated net loss of Rs 1 crore in the April-June quarter (Q1FY20), due to lower operational income and higher expenses. The movie & entertainment company had a profit of Rs 16 crore in the year-ago quarter.

The company’s operational revenue during the quarter declined 1 per cent at Rs 126 crore against Rs 127 crore in the corresponding quarter of previous fiscal. Total expenses rose 13 per cent at Rs 125