Saregama Q3: Revenue Dips, Profit Falls, But Margin Expansion Shines

• Saregama India reported mixed Q3 results with net profit down 17.8% to ₹51.2 crore and revenue declining 46% to ₹260.4 crore year-on-year.
• The revenue dip was attributed to a high base effect from live events in Q3 FY25; adjusted revenue (excluding live events) rose 16%.
• EBITDA increased 9% to ₹91.5 crore, and the EBITDA margin significantly expanded to 35% from 17% in the prior year.
• The company released over 1,100 film and non-film tracks, including Hindi albums Dhurandhar and Tu Meri Main Tera Main Tera Tu Meri, and expanded its events business with tours by Diljit Dosanjh and Himesh Reshammiya.
• Saregama made a strategic minority investment in Bhansali Productions for exclusive Hindi film music access.

Why It Matters: Saregama's Q3 saw revenue and profit decline due to a high base, but operational margins expanded significantly.