MUMBAI: Saregama, India’s oldest music label and the youngest movie studio, announced its financial results for the 2nd Quarter ended Sep 30.  Company’s consolidated Revenue from Operations for the Q2 FY20 is Rs. 1575 Mn as compared to Rs.1259 Mn in Q1 FY20, an increase of 25% Q-o-Q. Consolidated PAT for the Q2 FY20 is Rs 194 Mn in comparison to Rs (12) Mn in last quarter and Rs 157 Mn in last year same quarter.

Licensing Income continued on its growth trajectory and registered 21% growth in revenue on Y-o-Y basis in H1 FY20. In spite of lower footfalls in Consumer Durable and Telecom outlets during this festival season, Carvaan sales managed to grow. The number of units sold went up by 14% Q-o-Q to 250 K, and 19% on half yearly basis to 469K. The company continued its focus on increasing its penetration in mid and small-towns through awareness campaign and distribution network expansion.

The company claims that this was a great quarter for the films division, Yoodlee, which licensed 4 movies during this quarter; out of which 2 movies were delivered to Hotstar. Yoodlee films has the rare honor of being the only production house having original films on both Netflix and Hotstar.

In this quarter, revenue from TV & films witnessed 90 per cent Q-o-Q growth, the revenue jumped to Rs 273 million from Rs 143 millions in Q1.