July 31, 2020
Jyothi Venkatesh
Saregama, India’s oldest music label and the youngest movie studio, announced its financial results for the 1st Quarter of the financial year 20-21. In a quarter which was locked down due to Covid-19, the Company was able to increase its PBT 110 times on y-o-y basis. With a consolidated turnover of Rs. 765 Mn and PBT of Rs 220 Mn, the Company was able to achieve 29% PBT margin in this Quarter. The PAT for the Quarter was 158 Mn.The primary profit driver was the increased consumption of Saregama IP: Music, Films, TV Serials on digital media by people staying at home. There is more content getting consumed by more number of people in the post-Covid-19 era than the pre-Covid-19 one.These results have come despite Caravan sales slowing down in light of retail network being shut and no new shoots of our TV serials during this Quarter.
Highlights for the Quarter as follows:
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