Saregama's Sound Success: A Surge in Profit and Revenue

Saregama India Ltd reported a 20.8% rise in net profit for December 2024, reaching Rs 63.24 crore. This growth was fueled by significant revenue increases in music and events. Despite a loss in the video segment, the company plans to invest Rs 1,000 crore in new content development.

Saregama India Ltd posted a notable 20.8 percent year-on-year increase in net profit, amounting to Rs 63.24 crore for the quarter ending December 2024, thanks to strong revenue growth in its music and events segments. Revenue soared by 137 percent to Rs 483.43 crore, the company disclosed to stock exchanges.

The music sector, previously the largest income source, contributed Rs 163.02 crore, while the events segment exhibited remarkable expansion, generating Rs 278.89 crore, a significant jump from last year's Rs 10 crore for the quarter. The video segment incurred a loss of Rs 8.94 crore but showed sequential improvement.

Looking ahead, Saregama plans a Rs 1,000 crore investment between 2024-25 and 2026-27 in new content development. The board sanctioned an interim dividend of Rs 4.50 per equity share. Despite these positive signals, the company's stock fell 1.12 percent, closing at Rs 523.50 per share on the NSE.

(With inputs from agencies.)