Shemaroo Entertainment has reported a 19% growth in its operating revenue at Rs 146.6 crore for the quarter ended 30th September compared to Rs 123.1 crore in the corresponding quarter of the previous fiscal.
Revenue from digital media increased 36% to Rs 63.9 crore while the revenue from traditional media was up 8.7% to Rs 82.7 crore. The company attributed the increase in revenue to its broadcasting and digital initiatives.
Expenses increased 19% to Rs 133.7 crore from Rs 123.1 crore a year ago. EBITDA was up 25.7% to Rs 12.8 crore from Rs 10.2 crore. Net profit grew 23% to Rs 3.4 crore from Rs 2.8 crore.
In its investor presentation, the company noted that the onset of the festive season witnessed a moderate increase in ad spends. However, the company believes that ad spends will continue to remain under pressure on account of concerns around inflation, looming global recessions, and a slowdown of funding for new-age advertisers.