Saregama India Q3 PAT rises 38% yoy to Rs43.54cr

19 Jan 2022 , 02:51 PM

Saregama India Limited, India’s oldest music label, and the youngest movie studio announced its financial results for the third quarter of the financial year 2021-22.

Revenue from Operations increased to Rs150.30cr in the quarter ended December 31, 2021, from Rs133.91cr in the same quarter of last fiscal. Q3FY22 PBT is Rs58cr against Rs41.4cr in the corresponding quarter last year (i.e. 40% growth yoy). The company’s Profit After Tax (PAT) rose 38% yoy to Rs43.54cr 31.60cr.

Company’s Operating Income before Content Charge, Interest, and Depreciation (OIBCID) increased to Rs629 Mn in Q FY22 from Rs436 Mn in the corresponding quarter last year (i.e. 44% growth yoy)

On YTD 9 months ended FY22, Company’s Revenue from Operations has grown by 26% while PBT has grown by 38% compared to 9 months ended FY21.

The Board has declared an interim dividend of Rs30 /- per share (300%).

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. 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 licencing deal with short format video app Chingari. 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.

Carvaan sales improved during the quarter in sync with festive season. Company sold 141k units during the quarter compared to 103k units in Q2.

Saregama’s Tamil serial Roja and Anbe Vaa continued to be the Slot Leaders in their respective prime time slots. A new comedy series Naanga Vera Maari was launched on YouTube and received good response from the audiences.

Company is close to completing shoot of 2 Web Series for which Licensing deals are closed. The delivery is expected over next 4 months. Saregama recently announced its next Hindi web series ‘The Biscuit King’ based on the life of Rajan Pillai starring Prithiviraj Sukumaran.

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 2.55 pm, Saregama India Ltd was trading at Rs5,315 per share down by Rs19.15 or 0.36% from its previous closing of Rs5,334.15 per share on the BSE.