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HomegooglenewsSaregama India Q4 profit rises 29 pc to Rs 48 crore

Saregama India Q4 profit rises 29 pc to Rs 48 crore

New Delhi, May 2 (PTI) Music label Saregama India Ltd on Monday reported a 29.04 per cent increase in its consolidated net profit to Rs 47.98 crore for the fourth quarter ended March.

It had posted a net profit of Rs 37.18 crore in the year-ago period, Saregama said in a regulatory filing.

The company’s revenue from operations was up 46 per cent at Rs 180.24 crore during the quarter under review, as against Rs 123.45 crore in the corresponding period of the previous fiscal.

Total expenses of the RP Sanjiv Goenka Group firm were at Rs 134.80 crore, up 46.80 per cent in the latest fourth quarter as against Rs 91.82 crore.

Its revenue from music was at Rs 127.10 crore and Rs 52.53 crore from Film/TV serials.

For the fiscal year ended March 2022, Saregama’s consolidated net profit was up 34.54 per cent at Rs 152.65 crore. It had reported a net profit of Rs 113.46 crore in the previous year.

Its revenue from operations was at Rs 580.63 crore in 2021-22, up 31.37 per cent from Rs 441.96 crore in FY 2020-21.

“Saregama is well poised to capture a leadership position across the Content IP industry. FY22 was a good year for the company, and we expect to continue this trend,” Saregama India MD Vikram Mehra said.

Shares of Saregama India on Monday closed at Rs 431.85 apiece, 2.07 per cent up from the previous close. PTI KRH KRH AJ AJ

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