parent company in india confident of good full year
Saregama’s profit zooms by 142%
Saregama India Limited which achieved a major turn around in the last financial year 2004-05, has reported 142% growth in profit before tax (PBT) in the July-September’05 quarter (Q-2) at Rs. 314 lakhs, over the corresponding period last year. Sequential profit growth compared to the previous quarter (Q-on-Q) was 47%. The H-1 (April-September’05) profit at Rs. 528 lakhs registered 144% increase over the corresponding period of last year.
Saregama is India’s leading music company, which has of late forayed into lucrative home video business and is focusing on profitable music publishing, licensing and digital downloads business. The company’s physical music business has also become profitable, thanks to accelerated growth of audio CDs. The consistent substantial growth in profit has been made possible not only by growing home video, publishing and digital downloads income,but also by creative exploitation of the invaluable catalogue of music owned by the company.
[b]The company is confident of sustaining the momentum during the second half of the current year.[/b]
