Shemaroo posts 28.4% growth in Q1 consolidated revenue at Rs 96 crore
Net profit stands at Rs 42.92 lakh
Shemaroo Entertainment's consolidated revenue for the quarter ended 30th June has jumped by 28.4% to Rs 95.99 crore from Rs 74.76 crore in the corresponding quarter of the previous fiscal.
Digital media revenue is up 19.3% to Rs 48.1 crore from Rs 40.3 crore. Traditional media revenue rose 39% to Rs 47.9 crore from Rs 34.5 crore.
Expenses were up by almost 30% to Rs 96.02 crore from Rs 76.45 crore a year ago. The company posted a net profit of Rs 42.92 lakh against a net loss of Rs 1.36 crore.
The company noted that increased mobility on account of the Covid unlocking period affected media viewership across traditional and digital platforms.
It added that advertising spends for traditional advertisers was affected due to rising input costs, uncertainty in the global economic environment, and supply chain disruptions, and this was amplified by the slowdown in start-up funding which impacted the new-age advertisers
Despite challenges in both viewership and advertiser spends, the company said it has delivered strong revenue growth and maintained a positive margin during the quarter
Shemaroo released 18 new titles during the quarter with content across movies, web series, and plays. The company released its original web series 'Desai Diamonds' which was well received by the audience. It also did a world digital premiere of the blockbuster movie ‘Sonu Tane Mara Par Bharoso Nai Ke'.
The company launched the Telugu service on ShemarooMe in the USA. It crossed 60 million subscribers on its YouTube channel ‘FilmiGaane’ which is now the 20th most subscribed channel in the world.
