Q2FY23 Quarterly Result Announced for Saregama India Ltd.
Movies & entertainment company Saregama India announced Q2FY23 results: The Company posted the highest ever Operating Revenue for the quarter reaching Rs.1,892 million in Q2FY23 up 30% YoY. The company’s Operating Income before Content Charge, Interest and Depreciation (OIBCID) rose 31% to Rs.699 million in Q2FY23 from Rs.535 million in the corresponding Q2FY22. Q2FY23 PBT stood at Rs.621 million as against Rs.453 million in the corresponding Q2FY23 (i.e., 37% growth YoY) Avarna Jain, Vice Chairperson Saregama India, said “Saregama’s strategy of investing in high quality new IP across audio and video has started paying rich dividends. And this is expected to accelerate with the growing digitisation across social strata in India”. Vikram Mehra, MD Saregama India, said "Saregama has started achieving no.1 or 2 position in New Music across multiple Indian languages. Very soon we will not just be the biggest catalogue company but become leader in New Indian music also”. Result PDF31-10-2022