Total expenses during the period under review rose by 25% year-over-year to Rs 176.7 crore.
Adjusted EBIDTA jumped by 40% YoY to Rs 86.4 crore while adjusted EBIDTA margin rose by 300 basis points YoY to 33% in Q4 FY24.
Profit before tax in Q4 FY24 stood at Rs 76 crore, up by 30% from Rs 58.3 crore in Q4 FY23.
Saregama stated that during the quarter, the company released 290 plus Originals and Premium Recreations across Hindi, Bhojpuri, Gujarati, Punjabi, Tamil, Telugu, Malayalam, Marathi and Bengali languages. Company also released 2,000 plus derivatives (LoFi, Trap Mix, Cover, Acoustic etc.) which is driving the popularity and growth of its catalogue.
Digital footprint across Saregama owned and controlled channels touched 239 million followers and subscribers across YouTube, Instagram and Facebook.
The company’s strong performance was led by growth in music licensing on account of strong advertisement revenues driven by its investment in new music and the revenues generated through the artist management vertical.
For FY24, Saregama India has reported net profit and revenue of Rs 197.6 crore (up 5% YoY) and Rs 803 crore (up 7% YoY), respectively.
Avarna Jain, vice chairperson, Saregama India, said: “FY24 has been a significant year of transition with Saregama adopting a customer first approach, which is demonstrated by the diverse nature of content released across target segments, genres and languages.
Our acquisition of digital entertainment company Pocket Aces, bold moves to launch artist management and event management segments is a testament to our strategy of being future ready.”
Saregama India is a RPSG group company owning the largest music archives in India and one of the biggest in the world. The ownership of nearly 50 per cent of all the music ever recorded in India also makes Saregama the most authoritative repository of the country’s musical heritage. Saregama has also expanded into other branches of entertainment - film & series production, live events, and music-based consumer products.