BENGALURU: Indian custodians of music company Saregama Limited (Saregama) reported a 9.5 per cent drop in Total Income from Operations (TIO) in Q2-2015 to Rs 41.20 crore from the Rs 45.53 crore in the corresponding year ago quarter (Q2-2014) and a drop of 2.4 per cent from the Rs 42.31 crore reported in the immediate trailing quarter (Q1-2015). PAT for the current quarter (Q2-2015) fell 16.5 per cent to Rs 2.08 crore (5 per cent of TIO) from Rs 2.49 crore (5.5 per cent of TIO) in Q2-2014 and fell by 38.1 per cent from the Rs 3.36 crore (7.9 per cent of TIO) in Q1-2015.
Note: 100,00,000 = 100 lakh =10 million = 1 crore.
In the six month period ended September 30, 2014 (HY-2015), Saregama’s TIO increased 2.7 per cent to Rs 83.51 crore from Rs 81.34 crore in HY-2014. PAT for HY-201t at Rs 5.44 crore increased 25.9 per cent to Rs 5.44 crore (6.5 per cent of TIO) from Rs 4.32 crore (5.3 per cent of TIO) in HY-2014.
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Revenue Streams
The company’s net sales income in Q2-2015 at Rs 15.33 crore (37.2 per cent of TIO) was 6.4 per cent lower than the Rs 16.37 crore (36 per cent of TIO) in Q2-2014, and 1.7 per cent more than the Rs 15.07 crore (35.6 percent of TIO) in Q1-2015. For HY-2015, net sales income increased 4.1 per cent to Rs 30.40 crore (36.4 per cent of TIO) from Rs 29.19 crore (35.9 per cent of TIO) in HY-2014.
License Fee income in Q2-2015 at Rs 25.80 crore (62.6 per cent of TIO) was 11.3 per cent lower than the Rs 29.08 crore (63.9 per cent of TIO) in Q2-2014 and 4.9 per cent less than the Rs 27.12 crore (64.1 per cent of TIO) in Q1-2015. License Fee Income rose 1.7 per cent to Rs 52.92 crore (63.4 per cent of TIO) in HY-2015 from Rs 52.04 crore (64 per cent of TIO) in HY-2014.
Segment Results:
Two segments’ contribute to Saregama’s revene – Music and Films and Television serials (TV).
Music
Saregama’s Music segment reported 11.9 per cent drop in operating revenue to Rs 25.96 crore(63 per cent of TIO) in Q2-2015 from Rs 29.46 crore (64.7 per cent of TIO) in Q2-2014 and a drop of 6.9 per cent from Rs 27.88 crore (65.9 per cent of TIO) in Q1-2015. For HY-2015, operating revenue fell 1.3 per cent to Rs 53.84 crore from Rs 54.55 crore in HY-2014.
The segment reported 20.9 per cent drop in operating profit to Rs 6.61 crore in the current quarter from Rs 8.36 crore in 2-2014 and 48.7 per cent drop from the Rs 12.89 crore in Q1-2015. Operating profit from the music segment increased 10.4 per cent to Rs 19.5 crore from Rs 17.67 crore in HY-2014.
