BENGALURU: Indian Custodians of music company Saregama Limited (Saregama) reported 18.2 per cent higher y-o-y results for the quarter ended June 30, 2014 (Q1-2015, current quarter).Income from operations (TIO) in Q1 2015 was Rs 42.31 crore as compared to the same quarter of 2014, which was Rs 35.81 crore and 2.4 per cent lower than the Rs 43.35 crore q-o-q. The company’s PAT for the current quarter at Rs 3.36 crore (7.9 per cent of TIO) was 47.5 per cent more than the Rs 1.83 crore (5.1 per cent of TIO) in Q1-2014, but was less than half (0.49 times) the Rs 6.75 crore (15.6 per cent of TIO) in Q4-2014.
Saregama’s Net sales (net of excise duty) at Rs 15.07 crore (35.6 per cent of TIO) in Q1-2015 was 17.6 per cent higher than the Rs 12.82 crore (35.8 per cent of TIO) in Q1-2014 and 11.3 per cent higher than the Rs 12.82 crore (35.8 per cent of TIO) in Q4-2014.
License fee income in Q1-2015 at Rs 27.12 crore (64.1 per cent of TIO) was 18.1 per cent more than the Rs 22.96 crore (64.1 per cent of TIO) in Q1-2014, but was 8.6 per cent lower than the Rs 29.68 crore (68.5 per cent of TIO) in Q4-2014.
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The music segment reported Q1-2015 revenue at Rs 27.88 crore (65.9 per cent of TIO), which was 11.1 per cent more than the Rs 25.09 crore (70.1 per cent of TIO) in the corresponding year ago quarter, but was 9.5 per cent lower than the Rs 30.79 crore (71 per cent of TIO) in the immediate trailing quarter. The segment reported 38.5 per cent y-o-y growth at Rs 12.89 crore in Q1-2015 versus 9.31 crore, but 21.4 per cent lower than the Rs 16.4 crore in Q4-2014.
Films and television serials segment reported 34.6 per cent growth at Rs 14.43 crore (34.1 per cent of TIO) in Q1-2015 versus the Rs 10.72 crore (29.9 per cent of TIO) in Q1-2014 and was 14.9 per cent more than the Rs 12.56 crore (29 per cent of TIO) in Q4-2014. The segment reported loss of Rs 0.82 crore in Q1-2015; profit of Rs 0.37 crore in Q1-2014 and loss of Rs 1.85 crore in Q4-2014.
Total expenditure in Q1-2015 at Rs 39.16 crore (92.6 per cent of TIO) was 14.9 per cent more than the Rs 34.07 crore (95.1 per cent of TIO) in Q1-2014 and was 54.1 per cent more than the Rs 25.41 crore (58.6 per cent of TIO) in Q4-2014.
Saregama paid 55.2 per cent higher royalty fee at Rs 5.34 crore (12.6 per cent of TIO) as compared to the Rs 3.44 crore (9.6 per cent of TIO) in Q1-2014 and was a massive 3.26 times the Rs 1.64 crore (3.8 per cent of TIO) in Q4-2014.
The company’s cost of production of films, television serials and portal at Rs 13.76 (32.5 per cent of TIO) crore was 53.4 per cent more than the Rs 8.97 crore (25 per cent of TIO) in Q1-2014 and was 6.7 per cent lower than the Rs 14.75 crore (34 per cent of TIO) in Q4-2014.
Saregama’s advertisement and sales promotion expense in Q1-2015 at Rs 2.43 crore (5.7 per cent of TIO) was 10 per cent more than the Rs 2.21 crore (6.2 per cent of TIO) in Q1-2014 and 14.1 per cent more than the Rs 2.13 crore (4.9 per cent of TIO) in Q4-2014.
