Saregama India Limited Q2 profit rises 46% on music growth

Saregama India Limited reported Q2 FY27 consolidated net profit of ₹64.17 crore, up 46.4% year on year. The RPSG Group music and entertainment company recorded revenue from operations of ₹314.30 crore, a 36.6% increase, supported by growth in its music business and a higher number of live events.

How did Saregama perform in Q2 FY27?

Saregama delivered higher revenue and profit for the quarter ended September 30, 2026, compared with the corresponding period a year earlier. Consolidated net profit increased to ₹64.17 crore from ₹43.83 crore in Q2 FY26, while revenue from operations rose to ₹314.30 crore from ₹230.03 crore.

Total income, including other income, stood at ₹319.47 crore, up 32.28% year on year. The company also reported adjusted EBITDA of ₹118 crore, an increase of 39%, and profit before tax of ₹85.8 crore, up 43%. These figures indicate that operating earnings grew alongside the expansion in revenue during the September quarter.

What drove Saregama's quarterly revenue growth?

Saregama's music business was the largest contributor to quarterly revenue, generating ₹251.3 crore and growing 35% year on year. The segment includes music licensing, artiste management and retail activities. The company said its music performance supported the broader growth momentum during the quarter.

Live events delivered the fastest segment-level growth. Revenue from live events more than doubled by 101% year on year to ₹44.7 crore, which Saregama attributed to a higher number of events. The company has been expanding its presence across concert, devotional and stand-up comedy formats, increasing the role of live entertainment in its revenue mix.

The video business moved in the opposite direction. Revenue from video, which covers films, television, digital series and short-format content, declined 16% year on year to ₹18.3 crore. This decline did not prevent overall revenue growth because music and live events together accounted for most of quarterly operations.

How is Saregama expanding its music and event operations?

Saregama released more than 650 film and non-film tracks during Q2 FY27 across multiple Indian languages. It also added 54 artistes during the quarter, taking its artiste roster to 340. The company said the combined digital reach of these artistes was more than 450 million.

The additions reflect Saregama's effort to expand its catalogue and artiste network alongside music licensing. A larger release pipeline and broader artiste roster can support content availability across streaming, social and other digital distribution channels, though the company did not provide a revenue outlook or target for these initiatives.

The expansion of live events adds a separate operating line beyond recorded music and video content. However, the events segment reported a loss of ₹2.84 crore in the quarter despite revenue of ₹44.72 crore, indicating that the business was still absorbing costs associated with building and operating entertainment formats.

What do the first-half numbers show for Saregama?

Saregama's first-half FY27 results show that the September-quarter growth followed a stronger first six months. Revenue from operations for the half year ended September 30, 2026 rose to ₹577.90 crore from ₹436.80 crore in the previous year, while consolidated net profit increased to ₹116.05 crore from ₹80.34 crore.

Total consolidated income for H1 FY27 was ₹587.28 crore, up 27% year on year. The half-year figures place the quarterly results in context: the company has reported growth across the first two quarters, with music remaining the main revenue contributor and events providing the highest reported growth rate among key operating segments.

What does the result mean for investors and operations?

The Q2 result matters because Saregama increased net profit faster than revenue. Profit rose 46.4%, compared with revenue growth of 36.6%, while adjusted EBITDA increased 39%. The reported numbers point to improved earnings during a period when the company continued to invest in content, artistes and live-event formats.

For investors, the segment mix remains important. Music generated ₹251.3 crore, or the bulk of quarterly operating revenue, while live events accounted for ₹44.7 crore after more than doubling from the year-ago period. At the same time, the 16% drop in video revenue and the events segment loss show that not all parts of the business performed at the same pace.

Saregama said its growth was supported by the music business and by expanding its presence in live events and other entertainment formats. The company did not provide a formal financial forecast in the disclosed results. Its next updates will therefore be relevant for assessing whether music growth, event volumes and video performance continue to shape the revenue mix.

Conclusion

Saregama's Q2 FY27 performance was led by a 35% increase in music revenue and a 101% rise in live-events revenue. These gains helped consolidated revenue reach ₹314.30 crore and net profit reach ₹64.17 crore, representing year-on-year growth of 36.6% and 46.4%, respectively.

The key item to watch in subsequent disclosures is the uneven segment performance. Live events are growing rapidly but reported a quarterly segment loss, while video revenue fell 16%. Saregama has not disclosed an FY27 revenue or profit target, making further updates on these operations important for evaluating its growth path.