Movies & Entertainment company Saregama India announced Q4FY23 & FY23 results: The company’s Operating revenue rose 29% YoY at Rs 7,513 million in FY23. PAT stood at Rs 1,890 million; up 24% YoY Adjusted EBIDTA grew 21% YoY to reach Rs 2,699 million in FY23 from Rs 2,230 million in FY22 Adjusted EBIDTA Margin is 36% With revenue of Rs 2,074 million in Q4FY23, company posted highest ever quarterly revenue from operation registering a 15% growth compared to Q4FY22 Music licensing revenue grew at 23% YoY, thereby recording a growth in excess of 20% for 5th year in a row. This is driven by combination of high quality of new content investment and continuing growth of catalogue. Avarna Jain, Vice Chairperson Saregama India, said “The digital boom propelled by Govt’s progressive policies and growing income levels is resulting in a huge content demand in the country. Saregama with its enviable legacy and investments in technology, new content and personnel is well set to lead this content demand cycle, and create immense value for its stakeholders”. Vikram Mehra, MD Saregama India,said “The company is committed to building efficiencies to deliver strong fiscal performance while it continues to diversify its range of businesses. We look forward to the best utilization of new generation technology like Artificial Intelligence and Data Analytics to augment the growth in all respects. We are excited to have marquee projects lined up for release in the coming year which will further strengthen our position as key player in the entertainment sector”. Result PDF
Movies & Entertainment company Saregama India announced Q3FY23 results: Q3FY23: The company’s operating revenue for the quarter grew 23% to reach Rs 1,855 million in Q3FY23 from Rs 1,503 million in Q3FY22. Company’s operating income before content charge, interest and depreciation (OIBCID) rose 17% to Rs 735 million in Q3FY23 from Rs 629 million in the corresponding quarter last year. On YTD 9MFY23, the company’s revenue from operations has grown by 36% while PAT by 34% compared to 9 months ended FY22. The board has declared an interim dividend of Rs 3 per share (300 % on the face value of Re 1 each). Avarna Jain, Vice Chairperson Saregama India, said “The consistent growth delivered by the company demonstrates that our strategy is progressing in line with our vision, accentuating the strength and resilience of our business and our commitment to enhance value for all stake holders alike. The various partnerships that we have built, continue to drive our strong performance across different business segments”. Vikram Mehra, MD Saregama India, said “The company continues to grow its diverse range of business and provide business and creative opportunities to the community in the entertainment sector. Leveraging on data analytics, distribution, and understanding of the evolution of the market, we are consistently improving the monetization of content, generating sustainable revenue from different sources”. Result PDF