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FY09: Saregama Reports Rs. 81.4 Million Loss; Music Biz Improves In Q4

As compared to the first quarter of the 2008-09 fiscal year, Music company Saregama India reported half the Net Sales and profitability plummeted to less than 1/10th of what it was in Q1. For the full year, though, the company reported a net loss of Rs. 81.4 million, as compared to a net profit of 82 million for the previous fiscal, while Net Sales declined from Rs. 907.2 million to Rs. 661.6 million. Revenues from license fees also declined from Rs 519.3 million in FY08 to Rs 426.9 million in FY09. In terms of expenditure, the company has also reported a decline in Royalty costs - down from Rs. 285.5 million in FY08 to Rs. 146.1 million in FY09. Employee costs have increased, but both consumption of raw materials and advertising and sales promotion costs have declined. On a standalone basis, Saregama India reported Net Sales of Rs. 140.9 million in Q4, and Net Profit of just Rs. 0.5 million for Q4. Profit for Saregama has been declining for the last four quarters, but on the bright side, revenue did recover in Q4, though much of the increase may be attributed to Other Operating Income. Downloads: Financials Music Business A marginal recovery for Saregama was seen in the music business, as it reported Rs. 204 million in revenues for the quarter, and an EBITDA profit of Rs. 87.9 million. While there has been a recovery in terms of both EBITDA and revenues in Q4 Music revenues declined from Rs. 1287 million in…

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Written By

Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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