Shemaroo operational revenue up 36% in Q2 FY24
The company’s revenue from operations has grown by 45% from H1 FY23 to H1 FY24
Shemaroo Entertainment has reported a growth of 35.7% in revenue from operations in the second quarter of FY 2024 compared to the same period last year.
As per the financial statement for Q2 FY24, the company’s revenue from operations stood at Rs 198.9 crore, up from Rs 146.6 crore in Q2 FY23. Out of this, the revenue for digital media was Rs 62.5 crore and for traditional media it was Rs 136.4 crore.
From H1 FY23 to H1 FY24, the company’s revenue from operations grew by 45%.
The company’s total expenses has also increased from Rs 133.7 crore in Q2 FY23 to Rs 181.7 crore in Q2 FY24.
EBITDA saw a Y-o-Y growth of 34 % from Rs 12.8 crore in Q2 FY23 to Rs 17.2 crore in Q2 FY24.
During Q2 FY24, the company said it achieved robust revenue growth and maintained a positive margin, largely due to the strong performance of its traditional businesses, the company said.
It also noted that overall advertising demand remained subdued due to sluggish consumer sentiment and a persistent slowdown in funding for new-age advertisers.
“The festive season is expected to bring a slight upswing in advertising spends; however, prominence of major cricket events during the quarter is likely to absorb a significant portion of advertising budgets,” it said.
The company said that on YouTube, Shemaroo FilmiGaane, with 66 million subscribers, is the 23rd most subscribed channel in the world.
