Saregama India slides on Q2 profit drop

Saregama India

05/11/2024 09:00

** Saregama India  SARE.NS  slides 4.7% to 511.3 rupees
    ** Music label's Q2 consol net profit falls 6.7% y/y to 449
mln rupees ($5.3 mln) as expenses jump 62.6%
    ** Rev from ops grows 40%
    ** Stock rated "buy" on avg: median PT is 590 rupees - LSEG
    ** SARE up ~38% YTD

($1 = 84.1175 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))