Saregama India, engaged in the production/making of serials (media software) / films, reported a 16.87% increase in its consolidated net profit at Rs 338 million for the second quarter ended September 2021. It had posted a net profit of Rs 289.2 million in the July-September quarter last fiscal.

Saregama's revenue from operations was up 34.21% at Rs 1,451 million during the period under review as against Rs 1,081 million in the corresponding period of the previous fiscal.

Total expenses of the firm were at Rs 1,049.1 million in Q2/FY 2021-22 as against Rs 733.1 million, up 43.1%.

Company’s Operating Income before Content Charge, Interest and Depreciation (OIBCID) increased by 38% to Rs.535 million in Q2 FY22 from Rs 387 million in corresponding quarter last year.

During this quarter, Saregama launched multiple new songs across languages, including the hit music of Akshay Kumar starrer Bell Bottom and multiple non-films "Original" songs across Hindi, Bhojpuri, Gujarati, Punjabi, and Tamil languages.

"The rapid digitisation-of-India, further buoyed by the recent stay-at-home phenomenon, is the key driver of change in content consumption habits. This trend is expected to continue for a long time, and Saregama has aligned its content strategy to ride on this digital wave," the company added.

Shares of the company gained Rs 120.20, or 2.85%, to trade  at  Rs 4,337.  The total volume of shares traded  was  3,359 at  the BSE (3.05 p.m, Tuesday).