Saregama India Q2 Results: Net profit down 6.2%, shares close 5% lower

Despite the company’s year-on-year 40.31% rise in revenue at ₹241.83 crore in Q2 FY25, the company reported a 6.2% fall in its net profit from ₹47.99 crore in the year-ago period.

The shares had slumped to an intraday low of ₹506.45, down 5.56% on the NSE on Tuesday, November 5.

Saregama India, which is a part of the RP Sanjiv Goenka Group, posted a revenue of ₹172.35 crore in the corresponding quarter of the last fiscal, the November 5 regulatory filing said.

The fall in net profit comes at the back of increased operational costs which more than doubled in the quarter under review. The cost of operation went from ₹40.60 crore in the corresponding quarter a year ago to ₹87.12 crore in Q2FY25.

The total expenses increased 62% to ₹195 crore in comparison to ₹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 said in a statement.

Saregama Ltd. has a market capitalisation of ₹9,823.64 crore as of November 5, as per the NSE.