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Shemaroo consolidated net up 12.3% to Rs 15.93 crore
MUMBAI: Shemaroo Entertainment’s consolidated net profit for the quarter ended 30 June has jumped 12.3% to Rs 15.93 crore from Rs 14.18 crore in the same quarter of the previous fiscal year.
EBITDA increased by 12.9% to Rs 34.29 crore compared to Rs 30.37 crore. EBITDA margin stood at 32.8% compared to 31.6%.
Total revenue for the quarter jumped to Rs 104.5 crore from Rs 96.2 crore. Total expenses stood at Rs 79.5 crore up from Rs 73.7 crore. Revenue from new media was up 41.7% to Rs 28.53 crore while traditional media revenue fell 1.5% to Rs 73.82 crore.
Shemaroo Entertainment whole-time director and CFO Hiren Gada said, “After few quarters of impact, the traditional media business has slowly recovered to near normal levels post demonetisation. We have achieved an overall topline growth of 8.6% on a Y-O-Y basis. We continue to expand our digital reach and have managed to maintain our upward trajectory with a growth rate of 41.7% on a Y-O-Y basis in the digital media business. Our huge content library with varied genres and our expertise to monetise it, helps us offer our audiences their preferred choice of content on desired platforms.”
During the quarter, the company signed a content deal with OTT player YuppTV. It also launched Bhojpuri and comedy service with Airtel Digital TV in April and May respectively.
The company’s Miniplex service on Tata Sky made way for Tata Sky Bollywood Premiere Service in May 2017. It also launched Tata Sky Classic Cinema service in June 2017.