Saregama, a RPSG Group company, announced its financial results for the Quarter and Nine Months Ended December 31, 2023.
Company's Operating Revenue stood at Rs 2,043 Mn with a strong adjusted EBITDA of Rs.822 Mn at 40% Margin. Company delivered a PAT of Rs 523 Mn, a 9% growth over Q2FY24.
Music segment revenue grew strongly to Rs 1,690 Mn with new content continuing to contribute significantly to the Company's revenue and profitability.
The Board has declared an interim dividend of Rs.4 per share (400 % on the face value of Re.1 each).
Company completed the targeted acquisition of majority stake in fast growing digital entertainment company Pocket Aces Pictures Pvt Ltd in November'23.
Key Operational Highlights:
- This quarter saw music release of Vidhu Vinod Chopra's 12th Fail, Dhanush's Captain Miller, Venkatesh's Saindhav, Mohanlal's Malaikottai Valliban, Arijit's single Dil Hareya, multiple songs by Bhojpuri star Neelkamal and Gujrati's No.1 singer Rakesh Barot. But the biggest game changer was the song by India's biggest rapper Divine. He has also signed an India concert tour with us.
- During the Quarter, Company released 370 plus Originals and Premium Recreations across Hindi, Bhojpuri, Gujarati, Punjabi, Tamil, Telugu, Malayalam, Marathi and Bengali languages. Company also released 1,700 plus derivatives (LoFi, Trap Mix, Cover, Acoustic etc.) which is driving the popularity and growth of its catalogue.
- The other highlight of the quarter was the use of our songs for Merry Christmas (Katrina Kaif starrer Hindi Films), for Marathi film "Dhun"; for Telugu films "Bhagavanth Kesari" and "Ugram" etc. and by brands like Vodafone, Reliance Tira, Bisleri, Pepsi Lays, Mahindra Thar etc. in their ad films.
- Riding on the success of its Tamil Serial "Ilakkiya", Company started its Marathi remake "Tujhi Majhi Jamli Jodi" on Sun Marathi. We released "Crushed Season 3" and "Half Love Half Arranged" series from Dice of Pocket Aces on Amazon mini-TV.
- "FilterCopy" the biggest youth Instagram channel hit 1B+ views in last 12 months.
- Digital footprint across Saregama owned and controlled channels touched 232Mn followers and subscribers across YouTube, Instagram and Facebook.
- On Live events side, we had a successful Australia and New Zealand tour of Diljit Dosanjh and an event with Javed Akhtar around stories behind big Bollywood songs.
Avarna Jain, Vice Chairperson Saregama India, said "We continue to strengthen our position across IPs in music and video formats, catering to entertainment needs of different target groups, We are well on course of achieving our targeted content investment for this year, laying a strong foundation for profitable growth in the years to come. The legacy of rewarding shareholders continues with the board declaring a 400 % dividend."