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Saregama Net Profit Down To Rs 1.02 Cr In Q3-FY14, Music Revenues Continue To Slide

Saregama India, one of India’s largest music labels, has reported an operating income of Rs 43.02 crore for the quarter ending December 31, 2013, down 5.51% from Rs 45.53 crore reported at the end of September 30, 2013 and by 16.35% from Rs 51.43 crore reported at the end of the same quarter last year. Of this, Licensing Fees brought in Rs 24.67 crore for Q3-FY14, down from Rs 29.08 crore reported in Q2, and down from Rs 29.96 crore reported at the end of the same quarter last year. Net sales brought in comparatively less income, at Rs 18.22 crore. The company’s net profit has declined by 59% to Rs 1.02 crore, from Rs 2.49 crore reported at the end of Q2-FY14 and by 79.4% from Rs 4.95 crore reported at the end of the same quarter last year. The company's total expenses has reduced marginally to Rs 41.70 crore for the quarter ending December 31, 2013, from Rs 43.60 crore at the end of quarter ending September 30, 2013 and from Rs 47.59 crore at the end of the same quarter last year. Of this amount, the cost of production of films, television serials and portal has increased marginally to Rs 14.23 crore for the quarter ending December 31, 2013, up from Rs 13.83 crore reported at the end of September 30, 2013 and up from Rs 12.88 crore reported at the end of the same quarter last year. Segment wise revenue - Films & television serials accounted for Rs 16.87…

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