Mumbai , India : Saregama, a company under the RPSG Group, unveiled its financial performance for the Quarter and Nine Months Ended December 31, 2023. The company’s Operating Revenue amounted to Rs. 2,043 million, accompanied by a robust adjusted EBITDA of Rs. 822 million, representing a 40% Margin. Saregama achieved a Profit After Tax (PAT) of Rs. 523 million, showcasing a 9% growth compared to Q2FY24.
- The Board has announced an interim dividend of Rs. 4 per share, which equals 400% of the face value of Re. 1 each. Wednesday, February 21st, 2024 has been designated as the ‘Record Date’ for determining the eligibility of members to receive the interim dividend.
- The revenue from the music segment witnessed robust growth, reaching Rs. 1,690 million, with the continuous addition of new content making a substantial contribution to the company’s revenue and profitability.
Operational Highlights:
- During this quarter, several notable music releases took place, including Vidhu Vinod Chopra’s “12th Fail,” Dhanush’s “Captain Miller,” Venkatesh’s “Saindhav,” Mohanlal’s “Malaikottai Valliban,” Arijit Singh’s single “Dil Hareya,” multiple songs by Bhojpuri star Neelkamal, and tracks by Gujarat’s top singer Rakesh Barot.
- Throughout the quarter, the company launched over 370 original compositions and premium recreations spanning various languages including Hindi, Bhojpuri, Gujarati, Punjabi, Tamil, Telugu, Malayalam, Marathi, and Bengali. Additionally, the company introduced more than 1,700 derivatives such as LoFi, Trap Mix, Cover, Acoustic, among others. These releases have significantly contributed to the popularity and expansion of the company’s music catalog.
- Another notable highlight of the quarter was the utilization of the company’s songs in various contexts, including the Katrina Kaif starrer Hindi film “Merry Christmas,” the Marathi film “Dhun,” and Telugu films such as “Bhagavanth Kesari” and “Ugram.” Additionally, renowned brands like Vodafone, Reliance Tira, Bisleri, Pepsi Lays, and Mahindra Thar incorporated the company’s music into their advertisement films.
- “FilterCopy,” the largest youth-oriented Instagram channel, has achieved a remarkable milestone by surpassing 1 billion views in the past 12 months.
- The digital presence across Saregama’s owned and managed channels has reached an impressive milestone, with a total of 232 million followers and subscribers across platforms such as YouTube, Instagram, and Facebook.