Saregama India Q3 profit falls 18% as live events revenue slumps

New Delhi (PTI): Music record company Saregama India on Tuesday reported a 17.8 per cent drop in consolidated profit to Rs 51.24 crore during the December quarter, impacted by its 'live event' business.

It had posted a net profit of Rs 62.34 crore in the year-ago period, according to a regulatory filing from Saregama India, an RPSG Group company.

Saregama India had exceptional items totalling Rs 6.98 crore in the December quarter on account of the implementation of the new labour codes.

It reported a profit before exceptional items and tax, which was at Rs 76.50 crore. This was at Rs 84.45 crore in the corresponding period of the previous fiscal year.

Its revenue from Live Events dropped 92.76 per cent to Rs 16.42 crore during the quarter under review. It was at Rs 226.80 crore in the corresponding quarter a year ago.

Saregama's revenue from 'Music' segment was at Rs 179.31 crore, up 12.32 per cent.

"Excluding revenue from Live Events in Q3 FY25, Saregama delivered robust YoY growth, with revenue up 16 per cent and Adjusted EBITDA rising 43 per cent," it said.

Its revenue from operations was Rs 260.38 crore in the December quarter of FY26, down 46.13 per cent from Rs 483.43 crore in the corresponding quarter on a year-on-year basis.

Its total expenses were at Rs 191.30 crore, down 53.9 per cent in the third quarter of FY26.

Saregama's total income, which includes other income, was at Rs 267.8 crore during the quarter, down 46.34 per cent.

Shares of Saregama India Ltd on Tuesday settled at Rs 327.70 on the BSE, down 0.58 per cent from its previous close.