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Shemaroo Q1 net up 22% at Rs 11.67 cr

MUMBAI: Media and entertainment firm Shemaroo Entertainment has posted a 22.1 per cent jump in its consolidated net profit for the quarter ended 30 June 2015.

Shemaroo’s consolidated net profit in the first quarter of the fiscal stood at Rs 11.67 crore (Rs 116.7 million), compared to Rs 9.56 crore (Rs 95.6 million) a year ago.

Total income from operations during the quarter saw a 20.5 per cent increase to Rs 78.09 crore (Rs 780.9 million), from Rs 64.81 crore (Rs 648.1 million) in the corresponding quarter of the previous fiscal.

Shemaroo’s operating profit (EBITDA) was at Rs 24.48 crore (Rs 244.8 million), up 23.9 per cent from Rs 19.75 crore (Rs 197.5 million) a year ago.

EBITDA margin was at a healthy 31.3 per cent during the quarter.

The company disclosed that its traditional media and services revenue saw 12.3 per cent growth during the quarter to Rs 64.23 crore (Rs 642.3 million), while on a lower base its new media business clocked 83.5 per cent revenue growth at Rs 13.40 crore (Rs 134 million).

Hiren GadaShemaroo Entertainment whole-time director and CFO Hiren Gada commented, “We have yet another quarter of consistent growth. The new media business has seen a tremendous growth of 83.5 per cent in the first quarter. We continue to focus on mounting the strength of our library and monetising it on existing as well as new platforms. With the digital proliferation in the country, the consumption of content on devices like mobiles and tablets has been increasing. As a content owner and aggregator, we see an immense opportunity lying ahead of us in time to come.”

During the quarter, Shemaroo’s YouTube channel crossed 1 million subscribers.