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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…

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