Saregama India Q2 Results: Profit Falls 6.2% To Rs 44.95 Crore

Music label Saregama India Ltd on Tuesday reported a 6.2% fall in its net profit to Rs 44.95 crore for the second quarter of the 2024-25 financial year despite a 40.5% increase in revenue. Saregama India, which is a part of the RP Sanjiv Goenka Group, posted a net profit of Rs 47.99 crore in the corresponding quarter of the last fiscal, a statement said.

The company reported a revenue of Rs 241.83 crore during the quarter that ended on Sept. 30 as against Rs 172.35 crore in the same period of the previous fiscal.

During the quarter under review, operational costs more than doubled to Rs 87.12 crore from Rs 40.60 crore, the statement said.

Total expenses were at Rs 195 crore during the quarter as against Rs 119.95 crore in the year-ago period.

"FY'25 has begun on a strong note, with our new music releases topping charts across different platforms. Diversification also gained momentum with successful live events and the launch of our third Saregama talent," the company statement said.