Saregama India Ltd share Price Today

Movies & Entertainment company Saregama India announced Q3FY24 results:

Financial Performance:
- Total Operating Revenue for the quarter stood at Rs 2,043 million.
- Adjusted EBITDA reached Rs 822 million, achieving a healthy margin of 40%.
- Profit After Tax (PAT) was reported at Rs 523 million, marking a 9% increase over the second quarter of the fiscal year 2024.

Dividends:
- The board has declared an interim dividend of Rs 4 per share, which translates to a 400% dividend on the face value of Re 1 each.

Acquisitions and Partnerships:
- Saregama completed the acquisition of a majority stake in the digital entertainment company Pocket Aces Pictures Pvt Ltd in November 2023.

Content and Digital Presence:
- Music segment revenue saw a robust increase to Rs 1,690 million, bolstered by new content releases.
- Several major music releases occurred, including Divine's song and India concert tour agreement.
- Over 370 Originals and Premium Recreations were released across various languages.
- Launched more than 1,700 derivative tracks driving the catalog’s growth.
- Digital channels under Saregama's control have amassed 232 million followers and subscribers across various platforms.

Live Events and Other Highlights:
- Successful tours by artists like Diljit Dosanjh, and thematic events with celebrities such as Javed Akhtar.

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”.

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