Saregama Q4 profit rises more than 2-folds

New Delhi Music label Saregama India Ltd on Wednesday reported over two-fold increase in consolidated net profit to Rs 37.18 crore for the quarter ended on March 31, 2021, helped by increased consumption of digital media during stay-at-home after the pandemic.

The company had posted a net profit of Rs 14.84 crore in the corresponding period of the previous fiscal.

Revenue from operations increased by 13.6 per cent to Rs 123.45 crore during the period under review as against Rs 108.66 crore in the same period a year ago, Saregama said in a regulatory filing. Saregama said it has consistently increased the monetisation of its IP (music, films, TV serials) over the last 13 quarters.