Saregama India hits new high

Reacting to the Q2FY18 results that Saregama India announced yesterday, the stock price surged to hit a new high today at Rs.645. Profit booking at the level has since then pushed the stock price down to Rs.609, just about holding on to the green zone.

The company posted excellent numbers for the second quarter – on a 76% (YoY) rise in revenue at Rs.84 crore, its net profit came in at Rs.4.5 crore – a whopping rise of 125%.

Operating profit in fact did better, it rose 275% to Rs.7.5 crore and margins more than doubled up from 4.2% to 8.9%.