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Saregama profit at Rs 18.91 crore for FY14; Films & TV biz up, Music biz down

Saregama India, one of India’s largest music labels, has reported a consolidated net profit of Rs 18.91 crore for the year ended March 31, 2014 (FY14), more than double of Rs 8.11 crore profit in the previous year.  This is despite a 4.6% decline in its consolidated revenues to Rs 177.49 crore for the year, from Rs 185.99 crore revenue in the previous year. On a quarterly basis, the company posted a net profit of Rs 6.75 crore for the quarter ended March 31, 2014 (Q4-FY14), up from Rs 2.32 crore profit in the same quarter last year. The total operational revenue however declined by 9.6% year-on-year to Rs 43.35 crore, from Rs 47.95 crore in the same quarter last year. Music revenues down 18.5% YoY: Saregama's music business posted a net profit before tax of Rs 42.45 crore for FY14, registering a 12.3% decline from Rs 48.42 crore in the previous year. Consolidated revenues from the music segment also declined to Rs 113.96 crore for FY14, down 18.5% from Rs 139.8 crore revenue in the previous year. This pulled the segment's contribution to 64.2% of Saregama's total revenues for the fiscal, down from 75.1% in the previous year. On a quarterly basis, the music segment posted a net profit of Rs 16.40 crore for the quarter, down 16.3% from Rs 19.6 crore in the same quarter last year. The total revenues also declined by 11.8% to Rs 30.79 crore for the quarter, from Rs 34.91 crore in the same quarter last year. Film…

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