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Saregama Profit At Rs 1.83 Cr For Q1-FY14; Music Biz Down, Films & TV Biz Up

Saregama India has posted declined profits of Rs 1.83 crore for the quarter ending June 30, 2013, down 27.4% from Rs 2.52 crore profit in the same quarter last year and down 21.1% from Rs 2.32 crore in the previous quarter. This is despite a marginal year on year increase in its operational revenues, which was at Rs 35.8 crore for the quarter, up 5% from Rs 34.1 crore in the same quarter last year but down 25.34% from Rs 47.95 crore in the previous quarter. Music Revenues Decline: Revenues from the Music segment declined to Rs 25.09 crore for the quarter, down 7.6% from Rs 27.14 crore in the same quarter last year. The segment also saw a decline in the profit before tax to Rs 9.31 crore for the quarter, a 22% dip from 11.94 crore profit in the same quarter last year and down 51% from Rs 19.60 crore profit in the previous quarter. While Music still accounts for a majority of Saregama's revenues, its contribution declined to 70.1% for the quarter, down from 79.6% in the same quarter last year. Films and TV Serials Revenues Increase Significantly: The films and television serials revenue continues to grow significantly year on year and posted revenues of Rs 10.72 crore for the quarter, up 35.1% from Rs 6.96 crore in the same quarter last year. The segment also posted a profit of 0.37 crore for the quarter, as compared to Rs 4.46 crore loss in the same quarter last year. Films and television…

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