India’s oldest music label Saregama on Tuesday reported a 6.33 per cent year-on-year fall in its consolidated net profit to ₹44.95 crore for the second quarter this fiscal from ₹47.99 crore for the same period last fiscal, on the back of increased content investments.

Revenue for the RPSG Group company grew 40.31 per cent y-o-y at ₹241.83 crore compared to ₹172.35 crore for the corresponding period a year ago. Total expenses during the period under review rose 62.62 per cent y-o-y at ₹195.06 crore, according to a stock exchange filing.

The company said its adjusted EBITDA stood at ₹84.2 crore in Q2FY25 compared to ₹72 crore in Q2FY24, registering a y-o-y growth of 17 per cent. The content charge for the quarter increased 89 per cent y-o-y to ₹35 crore from ₹18.5 crore in the corresponding quarter of last fiscal.

Commenting on the results, Avarna Jain, Vice Chairperson, Saregama India, said, “FY25 has begun on a strong note with our new music release topping charts across different platforms. Diversification also gained momentum with successful live events and the launch of a third Saregama talent. We are well on track to be India’s premier entertainment company with IP being at the core of all its business activities.”

In a separate stock exchange filing, the company said Kumar Ajit, Executive Vice President of Music & Retail, tendered his resignation with effect from November 4, 2024, from the post due to personal reasons.

On Tuesday, the company’s scrip ended the day at ₹512.25 apiece on BSE, down 4.51 per cent from the previous close.

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