homevideos Newsearnings NewsAiming to acquire new Hindi films, sees good Carvaan sales in coming quarters, says Saregama
Aiming to acquire new Hindi films, sees good Carvaan sales in coming quarters, says Saregama
Saregama India on Monday said the company is aiming to acquire new Hindi films, after it posted a mixed set of Q1 earnings.
Saregama India on Monday said the company is aiming to acquire new Hindi films, after it posted a mixed set of Q1 earnings.
In an interview to CNBC-TV18, Sanjiv Goenka, chairman, said, "The loss in
earnings before interest, taxes, depreciation, and amortisation (EBITDA) was because of fire in the Bhiwandi godown in Maharashtra, where the company lost stocks and the expenses were charged off to the bottom-line. But at a profit before tax level, it's Rs 13.8 crore this quarter against Rs 6.8 crore year-on-year (YoY)."
Goenka said Carvaan sales have been good, but the first two months of Q1 was impacted due to fire. In June, the company reported 8,10,00 unit sales and it's growing up every month.
According to Goenka, the company sold 5,5,000 units of Carvaan in the first two months of the quarter. Although, the margins for the quarter are not very strong, but aim to make money from the volumes.
Carvaan already has six variants in different languages and mixes and more variants are expected going forward, he said, adding that sales are now penetrating into the villages and have good response from international markets as well.
Goenka said higher volumes have lead to lower advertisement cost per unit and vice versa, and increase in sales number would improve the profit also.
First Published: Jul 23, 2018 3:22 PM IST
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