Shemaroo Entertainment’s revenue from operations up 46% YoY
The company has reported 94% YoY rise in EBITDA
Shemaroo Entertainment’s revenue from operations for the fiscal ended 31st March 2023 has increased by 45.9 % to Rs 556.6 crore as compared to Rs 381.4 crore in the previous fiscal ended 31st March 2022.
For the fourth quarter ended 31st March 2023, the company’s revenue surged 75.8 % to Rs 164.5 crore compared to Rs 93.6 crore in the corresponding quarter of the previous fiscal.
Announcing Shemaroo Entertainment’s financial results for the fourth quarter and financial year ending 31st March 2023, the company CEO Hiren Gada said, “Considering the external economic scenario, I am very pleased with our overall performance in this financial year.”
The company’s Profit After Tax (PAT) was up by 136.5 % to Rs 4.8 crores compared to Rs 2.1 crores in the fourth quarter ended 31st March 2022.
Commenting on the results, Gada said, “We started on this journey of changing our business strategy in 2019 and against all odds and headwinds that we have faced over the last few years, we have overcome all these challenges and have been successful in meeting our strategic goals.
“We are extremely confident that the agility, strength and innovative business model, along with a professionally run organization with freshly inducted talent from the media industry, will see our company delivering strong financial performance in the coming years.”
The company also saw an annual growth of 23.3 % in digital media and 66.5 % in traditional media in the financial year ended 31st March 2023 compared to the previous fiscal.
ShemarooMe, the OTT Platform released 14 new titles during the fourth quarter ended 31st March 2023 and the general entertainment channels (GECs) recorded a viewership share of 9 % in over all Hindi GEC genre.
