Saregama rides on digital wave; Q1 PAT jumps 73% yoy to Rs27.3cr

Revenue from Operations in Q1FY22 rose 37% yoy to Rs105cr. PAT Margin for Q1FY22 is 26%.

Jul 23, 2021 10:07 IST India Infoline News Service

Saregama India
Saregama India Limited on Thursday announced its financial results for the first quarter of the Financial year 2021-22. Company’s PAT at Rs27.3cr registered a 73% growth compared to the same quarter last year.

Revenue from Operations in Q1FY22 was at Rs105cr against Rs76.5cr in the corresponding quarter last year (i.e. 37% growth yoy). PAT Margin for Q1FY22 is 26% against Q1FY21 PAT margin of 21%.

“During this quarter, Saregama Launched many non-film “Original” songs across Hindi, Bhojpuri, Gujarati, Punjabi, and Tamil languages. It’s latest song “Paani Paani” by Badshah trended at no. 1 position across all music streaming platforms, social media and YouTube. The company also acquired music rights of the next set of films of India’s biggest film directors, Sanjay Leela Bhansali and Shankar,” company said in a filing on Thursday.

It further said, Covid (2nd wave) lockdowns adversely affected Carvaan sales for the quarter. Company still managed to sell 45K units of Carvaan in Q1 FY22. The Tamil serial ‘Roja’ continues to hold its leadership position on SunTV. ‘Collar Bomb’, a Yoodlee film, recently got released in Disney +Hotstar, and was the most streamed content across OTT platforms in India during the week of July 12-18, 2021 (according to Ormax Media).

The rapid digitisation-of-India, further buoyed by the recent stay-at-home phenomenon, is the key driver of change in content consumption habits. This trend is expected to continue for a long time, and Saregama has aligned its content strategy to ride on this digital wave.

At around 10.56 AM, Saregama India Ltd was trading at Rs3,295.30 per piece down by Rs8.4 or 0.25% from its previous closing of Rs3,303.70 per piece on the BSE.

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