Music record company Saregama India saw its shares jump 13.3% in Wednesday's trade on November 4 to settle at ₹637 apiece, as investors cheered the company's September-quarter performance, which came in ahead of Street estimates.
The company reported a 46.4% year-on-year (YoY) increase in its consolidated net profit to ₹64.17 crore, led by its Music business and the expansion of its Live Events segment. The company's Music business, which includes licensing, artiste management and retail, reported revenue of ₹251.3 crore in Q2 FY27, registering 35% YoY growth.
The Live Events business, which comprises concerts, devotional events, stand-up comedy and experiential offerings, reported revenue of ₹44.7 crore, registering 101% YoY growth, supported by a higher number of events.
The company said it continued to strengthen its multi-format live entertainment portfolio, leveraging its artiste relationships and music intellectual property (IP) to engage audiences across geographies and create monetisation opportunities.
Meanwhile, the Video business, which includes films, television, digital series and short-format content, reported revenue of ₹18.3 crore, reflecting a moderation of 16% YoY.
Its revenue from operations increased 36.63% to ₹314.30 crore…