Music label, film company, and hardware seller Saregama's operational revenues grew by 60% year-on-year to Rs 150 crores for the quarter ended December 31, 2018, from revenues of Rs 93.7 crores in Q3FY18. The growth was driven by a 68% jump in the company's music business revenues to Rs 138.5 crore from Rs 82.3 crore a year ago. In fact, the music business brought in 92% of the company's quarterly revenues, while the TV/films business brought in 8% of the revenue. Profits from the music segment grew 45% YoY to Rs 32.3 crore, which solely drove overall company profit. Revenues from the films/TV business remained largely stagnant (as compared to the music business) growing only 6% YoY to Rs 12.10 crore from Rs 11.4 crore in the same quarter last year. Carvaan numbers The music segment includes licensing of Saregama's 120,000 songs (across 18 languages) to streaming services, radio, TV, and YouTube streaming, outside of WAP mobile services like caller ring tones. In 2017, the company launched its hardware product Carvaan, a portable music player with an inbuilt music catalogue of 5,000 old Hindi movie songs, with AM/FM radio and Bluetooth support. The company has now sold 1 million units, with projections of expected sales of another 9 million units in FY19. 297,000 units were sold in Diwali 2018, recording a 30% jump in sales over the preceding quarter. The company has also added nearly 4,000 dealers for the device, and has 19,600 dealers in all. Saregama has spun-off the original…
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