Saregama India's Profit Dips Despite Revenue Surge

Saregama India Ltd reported a 6.2% decrease in net profit for Q2 2024-25, despite a significant 40.5% revenue increase. The company's profit fell to Rs 44.95 crore, while revenue reached Rs 241.83 crore. Increased operational costs led to higher total expenses, affecting profitability.

In a surprising financial update, Saregama India Ltd announced on Tuesday a 6.2 percent drop in its net profit for the second quarter of the 2024-25 fiscal year, registering Rs 44.95 crore. This decline comes despite a notable 40.5 percent increase in revenue over the same period.

The company, a part of the RP Sanjiv Goenka Group, had reported a net profit of Rs 47.99 crore during the same quarter last year. Revenue for the quarter ending September 30 soared to Rs 241.83 crore, compared to Rs 172.35 crore in the previous fiscal year.

Saregama attributed the profit dip to escalated operational costs, which more than doubled to Rs 87.12 crore from the previous year's Rs 40.60 crore. Total expenses rose, reaching Rs 195 crore compared to Rs 119.95 crore a year ago. Amid these figures, the company highlighted successful music releases, live events, and new talent launches as bright spots, indicating strong growth potential moving forward.

(With inputs from agencies.)