Saregama India reported 151% jump in consolidated net profit to Rs 37.2 crore in Q4 FY21 as against Rs 14.8 crore in Q4 FY20.
Revenue from operations increased 14% year-on-year (YoY) to Rs 123.5 crore. Among segments, revenue from Music business was Rs 101.3 crore (up 10% YoY), revenue from TV & Films business was Rs 21 crore (up 27% YoY) and revenue from Publication business was Rs 1.2 crore (up 140% YoY) in the fourth quarter.
Profit before tax in Q4 FY21 stood at Rs 50.3 crore, up by 126% from Rs 22.3 crore reported in Q4 FY20.
The company said that it has consistently increased the monetisation of its IP (music, films, TV serials) over the last 13 quarters. Digitisation and low cost of data in India remain the primary growth drivers of content consumption. This is further fueled by the increase in smartphones, the rising popularity of OTT and social media apps.
During this quarter, Saregama launched many Hindi and regional language non-film original songs. Many of these songs trended on YouTube and OTT platforms. With Carvaan Mini Kids continuing to win customer appreciation, Carvaan overall sold 110K units in Q4 FY21.
With one more movie licensed during the quarter, Yoodlee studio has released 16 films till now. The Tamil serial ‘Roja’ continues to hold its leadership position on Sun TV. The other two serials also continued registering high TRPs.
The fast-growing digitisation of India, buoyed by the present COVID situation, is the key driver of change in content consumption habits. This trend is expected to continue for a long time, and Saregama has aligned its content strategy to ride on this digital wave.
The company reported 161% jump in consolidated net profit to Rs 113.5 crore on 15% fall in revenue from operations to Rs 442 crore in the year ended 31 March 2021 over the year ended 31 March 2020.
Saregama India owns the largest music archives in India, one of the biggest in the world. Saregama has also expanded into other branches of entertainment – publishing, film production and digital content.
The scrip was down 3.36% to currently trade at Rs 1921.55 on the BSE. Business Standard