Saregama India has announced a significant financial performance for the fourth quarter of fiscal year 2024, reporting a 24% rise in net profit to Rs 53.9 crore. This impressive growth was driven by a 29% increase in revenue from operations, which reached Rs 263.1 crore, compared to the same period in FY23.
Key Financial Highlights
- Total Expenses: Increased by 25% year-over-year to Rs 176.7 crore.
- Adjusted EBITDA: Rose by 40% YoY to Rs 86.4 crore, with the adjusted EBITDA margin improving by 300 basis points to 33%.
- Profit Before Tax: Increased by 30% to Rs 76 crore, up from Rs 58.3 crore in Q4 FY23.
Strategic Content Expansion
During the quarter, Saregama released over 290 Originals and Premium Recreations in multiple languages, including Hindi, Bhojpuri, Gujarati, Punjabi, Tamil, Telugu, Malayalam, Marathi, and Bengali. Additionally, the company launched more than 2,000 derivatives such as LoFi, Trap Mix, Cover, and Acoustic versions, which have significantly boosted the popularity and growth of its music catalogue.
Digital Presence
Saregama’s digital footprint continues to expand, reaching 239 million followers and subscribers across its owned and controlled channels on YouTube, Instagram, and Facebook.
Revenue Drivers
The robust performance was largely attributed to increased music licensing revenues, fueled by strong advertisement revenues and investments in new music. Additionally, revenues from the artist management vertical contributed to the overall growth.
Full-Year Performance
For the entire fiscal year 2024, Saregama India reported a net profit of Rs 197.6 crore, marking a 5% year-over-year increase. Revenue for the year stood at Rs 803 crore, up 7% from the previous year.
Strategic Initiatives
Avarna Jain, Vice Chairperson of Saregama India, highlighted the company’s strategic shifts in FY24: “This has been a significant year of transition, with Saregama adopting a customer-first approach, demonstrated by the diverse content released across various segments, genres, and languages. Our acquisition of digital entertainment company Pocket Aces, along with launching new artist and event management segments, underscores our strategy of being future-ready.”
Company Overview
Saregama India, part of the RPSG Group, owns the largest music archives in India and one of the largest in the world. With nearly 50% ownership of all music ever recorded in India, Saregama stands as a major repository of the country’s musical heritage. The company has also diversified into film and series production, live events, and music-based consumer products.
