Saregama India plays a 'hit' tune!

Saregama India or what was earlier recognised as HMV, has hit a new high today at Rs.126.15. It has in fact been scaling new highs since 6^th June, maybe in anticipation of very good numbers for Q4FY14.

And the company did not disappoint – it posted an over three times jump in its net profit for the quarter at Rs.7 crore compared to Rs.2 crore in Q4FY13. Its operating profit came in at Rs.18 crore v/s Rs.1.32 crore in Q3 and loss of Rs.1 crore in previous Q4. EPS of the quarter has come in at Rs.3.88 while that for FY14 stands at Rs.10.86. Our Editor, Mr.SP Tulsian recommends one to buy this stock as an investor.