Shemaroo Q3 net profit up 8.9%, EBITDA remains flat

MUMBAI: Content aggregator and distributor Shemaroo Entertainment’s net profit for the quarter ended 31st December has increased by 8.9% to Rs 19.6 crore as against Rs 18 crore in the corresponding quarter of the previous fiscal.

EBITDA was down 0.3% to Rs 35.9 crore compared to Rs 36 crore in the year-ago period. The EBITDA margin was down by 311 Bps to 24% from 27.11%.

Revenue from operations fell 12.3% to Rs 148.9 crore compared to Rs 132.6 crore. Total expenses increased by 17.5% to Rs 113.7 crore from Rs 96.8 crore.

Revenue from traditional media segment was down 6.8% at Rs 106.3 crore from Rs 99.5 crore. Digital media revenue increased 28.7% to Rs 42.6 crore compared to Rs 33.1 crore.

In Q3 FY19, Shemaroo crossed 18 million subscribers on its YouTube channel ‘FilmiGaane’ and 13 million subscribers on ‘ShemarooENT’. It signed a content deal with Peo TV an IPTV service of Sri Lanka Telecom.

The company is targeting to launch OTT platform namely Shemaroo ME in Q4 FY19 after unveiling the brand name in Q3.

Shemaroo launched its new brand campaign ‘Success ka Formula’ showcasing its content strength ranging from Bollywood, Devotion, and Gujarati for its B2B stakeholder. It also launched ‘Bhagavad Gita’ on Amazon Alexa. It also in the process of launching operations in the USA.