Shemaroo Entertainment, a leading media and entertainment company, has released its financial results for the fourth quarter and fiscal year ending on March 31, 2023. The company’s revenue from operations for the fiscal year 2022-23 was reported at Rs. 556.6 crores, showing a significant increase from Rs. 381.4 crores in the previous fiscal year (2021-22), reflecting a growth rate of 45.9%.
In the fourth quarter of FY23, the revenue from operations stood at Rs. 164.5 crores, compared to Rs. 93.6 crores in Q4 FY22, demonstrating a year-on-year growth of 75.8%. The earnings before Interest, Tax, Depreciation, and Amortization (EBITDA) for Q4 FY23 were reported at Rs. 16.9 crores, a substantial increase from Rs. 8.7 crores in Q4 FY22, representing a growth rate of 93.7%. The company’s EBITDA margin for the quarter stood at 10.3%.
Shemaroo Entertainment’s Profit After Tax (PAT) for the fourth quarter of FY23 increased by 136.5% to Rs. 4.8 crores, compared to Rs. 2.1 crores in the same period of the previous fiscal year.
Hiren Gada, the CEO of Shemaroo Entertainment Ltd., expressed his satisfaction with the company’s overall performance, particularly considering the challenging external economic environment. He highlighted the successful implementation of their revised business strategy since 2019 and emphasized the company’s resilience and ability to achieve its strategic goals. Gada expressed confidence in the company’s innovative business model, professional management team, and fresh talent from the media industry, anticipating strong financial performance in the coming years.
In terms of media growth, digital media and traditional media experienced year-on-year growth rates of 23.3% and 66.5%, respectively, in FY23. Shemaroo Entertainment’s OTT (Over-The-Top) platform released 14 new titles during the quarter. The company’s general entertainment channels (GECs) achieved a viewership share of 9% in the overall Hindi GEC genre.
Overall, Shemaroo Entertainment’s financial results for FY23 indicate a substantial increase in revenue from operations, EBITDA, and PAT. The company’s successful adaptation to changing market dynamics, along with its strong business strategy and talented team, positions it well for future growth and performance.
