Saregama shares jump over 3% after Q1 profit rises 41%; music business drives growth
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Shares of Saregama India climbed over 3% in intraday trade on Tuesday after the RP-Sanjiv Goenka Group company reported a strong set of numbers for the June quarter, driven by robust growth in its music business and a sharp rise in live events revenue.
The stock rose by as much as 3.4% during the session after the company announced its June quarter results. The shares later pared some gains to trade around 1% higher.
Revenue, profit post healthy growth
Saregama reported a 27.5% year-on-year increase in revenue from operations to ₹263.6 crore in the quarter ended June 30, compared with ₹206.8 crore a year earlier. Net profit rose 40.6% to ₹51.6 crore from ₹36.7 crore in the corresponding quarter last year.
“We have started the new financial year on a strong note, delivering healthy financial performance while continuing to strengthen our Entertainment Flywheel. Our integrated ecosystem across music, video, live events and artiste management enables us to maximise the value of our intellectual property and positions us well for sustainable long-term growth,” said Avarna Jain, vice chairperson, Saregama India.
The company reported an adjusted EBITDA of ₹112.4 crore, up 69% year-on-year, while the adjusted EBITDA margin expanded to 42% from 32% a year ago.
Music business remains key growth driver
The music segment continued to underpin the company’s performance, with revenue from the business rising 39% year-on-year to ₹230.6 crore. Music EBITDA increased 36%, while the live events business posted 214% growth in revenue, aided by concerts, devotional events and stand-up comedy formats.
The company released more than 750 film and non-film tracks across multiple Indian languages during the quarter, added 33 artistes to its roster—taking the total to 309—and expanded its digital footprint to over 680 million followers and subscribers across platforms.
The company also said that it collaborated with brands including Visa, Hindustan Unilever, Myntra, Godrej and Bharat Matrimony during the quarter, while its music catalogue featured in projects such as Cocktail 2 and Raakh, highlighting its strategy of monetising intellectual property across multiple formats.