Saregama India net profit rises 16.9% at Rs34cr; stock ends higher

Saregama India reported a 16.9% increase in its consolidated net profit at Rs33.80cr for the second quarter ended September 2021. It had posted a net profit of Rs28.92cr in the July-September quarter last fiscal.

The company’s revenue from operations rose 34.21% at Rs145.09cr during the period under review as against Rs108.11cr in the corresponding period of the previous fiscal.

Carvaan sales improved during the quarter in sync with the easing of lockdowns in multiple states. The company sold 103k units during the quarter compared to 45k units in Q1, Saregama said in a regulatory filing.

The stock ended at Rs4,355 up by Rs138.2 or 3.28% from its previous closing of Rs4,216.80 on the BSE. The scrip opened at Rs4,333 and has touched a high and low of Rs4,427.60 and Rs4,250 respectively.

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( With inputs from indiainfoline)