Saregama records highest-ever quarterly revenue in Q2

Net profit was up 36% to Rs 46.1 crore from Rs 34 crore

by exchange4media Staff
Published: Nov 5, 2022 10:16 AM | 3 min read

RPSG Group-owned Saregama has reported a 30% growth in revenue for the quarter ended 30th September to reach Rs 189.2 crore compared to Rs 169.3 crore in the corresponding quarter of the previous fiscal. This is the company's highest-ever operating revenue in a quarter.

Revenue from the core music segment rose 18% to Rs 150.9 crore even as the revenue from the Films, Television serials, and Events segment shrank by 12% to Rs 34.1 crore. The publication division recorded a 27% growth to end the quarter with a revenue of Rs 4.2 crore.

Saregama's net profit was up 36% to Rs 46.1 crore from Rs 34 crore. The company’s Operating Income before Content Charge, Interest, and Depreciation (OIBCID) rose 31% to Rs 69.9 crore from Rs 53.5 crore. Total expenses increased 30% to Rs 119.3 crore compared to Rs 91.6 crore.

Saregama India Vice Chairperson Avarna Jain said, "Saregama’s strategy of investing in high-quality new IP across audio and video has started paying rich dividends. And this is expected to accelerate with the growing digitisation across social strata in India."

Saregama India MD Vikram Mehra said, "Saregama has started achieving no.1 or 2 positions in New Music across multiple Indian languages. Very soon, we will not just be the biggest catalogue company but also the leader in New Indian music."

During this quarter, the company launched the music of Superstar Chiranjeevi’s God Father, Kalyan Ram’s Bimbisara, etc. in Telugu; Anurag Kashyap’s film Do Baaraa and Balki’s film Chup in Hindi; Dhanush’s film Naane Varuvean in Tamil and Diljit Dosanjh’s film Babe Bhangra Paunde Ne in Punjabi. It also released multiple ‘Originals’ songs sung by Adnan Sami, Satinder Sartaj, Shilpi Raj, and Pawan Singh.

Overall, the company released 308 films and non-film songs across Hindi, Bhojpuri, Gujarati, Punjabi, Tamil, Telugu, Malayalam, Marathi, and Bengali languages. The other highlight of the quarter was the use of our songs for the film “Vikram Vedha”, “Dharamveer, “Jind Maahi” etc. for digital content like Coke Bangla and Delhi Crime Season-2 and by brands like WhatsApp, Uber, Dettol, etc. in their ad films.

During the quarter, Saregama also announced its long-term partnership with Bollywood music maven Arijit Singh to create multiple original songs and renditions in Hindi and Bengali.

Carvaan, the company's portable digital music player, continued to regain its momentum with the unit sales growing by 51% YoY with the help of the newly launched variant, Carvaan Mobile. Overall, the company sold 156k units in Q2 compared to 103k last year.

Saregama announced two new Malayalam films, namely superstar Prithviraj Sukumaran’s Khalifa and Asia Ali’s Kasargold. After an over 2300-episode run, the company's Tamil TV serial ‘Chandralekha’ was replaced by a new serial Ilakkiya on Sun TV.