Saregama India shares jump 13.3 per cent on strong quarterly results
The music record company reported a 46.4 per cent year-on-year increase in consolidated net profit for the September quarter.
Shares of Saregama India rose 13.3 per cent in trade on Wednesday, November 4, to settle at ₹637 apiece, according to Mint. The rally came as investors reacted to the company's September-quarter performance, which exceeded market estimates.
The company reported a 46.4 per cent year-on-year increase in consolidated net profit to ₹64.17 crore. Revenue from operations grew 36.63 per cent to ₹314.30 crore in the September quarter of FY27, up from ₹230 crore in the same quarter last year.
The Music business, covering licensing, artiste management, and retail, reported revenue of ₹251.3 crore, a 35 per cent year-on-year growth. The Live Events segment, which includes concerts and stand-up comedy, saw revenue of ₹44.7 crore, marking a 101 per cent year-on-year increase.
In contrast, the Video business, which includes films and digital series, reported revenue of ₹18.3 crore, a 16 per cent year-on-year moderation. During the quarter, the company released more than 650 film and non-film tracks in various languages.
Saregama India added 54 artistes in Q2 FY27, bringing its total roster to 340 artistes with a digital reach exceeding 450 million. The company also collaborated with brands including Google, Cadbury, Apple, Tanishq, and Reliance during the period.
Vice Chairperson of Saregama India Avarna Jain said the company continued to build on growth momentum supported by the Music business and expansion in Live Events. Jain stated the focus remains on maximising intellectual property value through multiple monetisation avenues.