Quarterly Results Dec. 2008

(Rs. in Lakhs)

Sl. No.

Particulars

Three Months Ended 31st December, 2008 (Unaudited)

Three Months Ended 31st December, 2007 (Unaudited)

Nine
Months Ended 31st December, 2008 (Unaudited)

Nine
Months Ended 31st December, 2007 (Unaudited)

Year Ended 31st March, 2008 (Audited)

1. (a)

(i) Net Sales

1,527

2,215

4,922

6,507

8,680

(ii) License Fees

547

685

3,022

3,269

5,056

(b)

Other Operating Income

783

104

815

182

402

Expenditure :

(a)

(Increase)/Decrease in stock in trade

(1)

(253)

(394)

(366)

and Work in Progress

(b)

Consumption of raw materials

512

656

1,509

1,750

2,318

(c)

Cost of production of films/television serials

236

469

765

1,254

1,743

(d)

Employees Cost

509

535

1,529

1,474

1,972

(e)

Depreciation (net of transfer from

289

257

340

Revaluation Reserve)

(f)

Advertisement and Sales promotion

127

230

461

842

957

(g)

Royalty

287

283

1,199

1,941

2,834

(h)

Other Expenditure

934

775

2,486

2,190

3,253

(i)

Total

2,699

2,777

8,332

9,314

13,051

Profit from Operations before Other Income, Interest and Exceptional Items (1-2)

158

227

427

644

1,087

Other Income

147

173

201

Profit before Interest and Exceptional Items (3+4)

188

254

574

817

1,288

Interest

117

276

125

191

Profit after Interest but before Exceptional Items (5-6)

197

298

692

1,097

Exceptional Items

(38)

(47)

(115)

(136)

(181)

Profit (+)/ Loss (-) from Ordinary

150

183

556

916

Activities before tax (7+8)

10.

Tax Expense

(a) Current Tax

(b) Fringe Benefit Tax

11.

Net Profit (+)/ Loss(-) from

Ordinary Activities after tax (9-10)

135

132

454

773

12.

Extraordinary Items (net of tax expense Rs.Nil)

13.

Net Profit (+)/ Loss(-) for the period (11-12)

135

132

454

773

14.

Paid-up Equity Share Capital

1,468

(Face Value of Rs.10/- each)

15.

Reserves excluding Revaluation Reserves (as per Balance Sheet) of previous accounting year

7,822

16.

Earnings Per Share (EPS)

(a)

Basic and Diluted EPS (Rs.) before Extraordinary items for the period

0.12

0.92

0.90

3.09

5.26

(b)

Basic and Diluted EPS (Rs.) after Extraordinary items for the period

0.12

0.92

0.90

3.09

5.26

17.

Public shareholding

- Number of shares

6,879,941

7,079,117

6,879,941

7,079,117

6,879,941

- Percentage of shareholding

46.88

48.24

46.88

48.24

46.88

Segment wise Revenue, Results and Capital Employed

(Rs. in Lakhs)

Three Months Ended 31st December, 2008 (Unaudited)

Three Months Ended 31st December, 2007 (Unaudited)

Nine
Months Ended 31st December, 2008 (Unaudited)

Nine
Months Ended 31st December, 2007 (Unaudited)

Year Ended
31st March, 2008 (Audited)

Segment Revenue

(a)

Music

1,733

2,623

7,017

8,880

12,375

(b)

Films/TV Serials

341

277

927

896

1,361

(c)

Unallocated

Total

2,074

2,900

7,944

9,776

13,736

Less: Inter Segment Revenue

Net Sales /Income From Operations

2,074

2,900

7,944

9,776

13,736

Segment Results

Profit (+) / Loss(-)before tax and Interest for each Segment

(a) Music

563

662

1,581

1,799

2,779

(b) Films/TV Serials

(103)

(122)

(232)

(303)

(604)

Total

460

540

1,349

1,496

2,175

Less :

i) Interest

117

276

125

191

ii) Other Unallocable Expenditure

338

362

1,035

987

1,271

iii) Other Unallocable Income

145

172

203

Total Profit Before tax

150

183

556

916

Capital Employed

(a) Music

7,866

9,047

7,866

9,047

7,287

(b) Films/TV Serials

2,677

1,619

2,677

1,619

1,675

Total

10,543

10,666

10,543

10,666

8,962

NOTES :

Out of the 53,38,628 equity shares of Rs. 10/- each for cash at a premium of Rs.35/- (issue price - Rs.45/-) pursuant to the Rights Issue in 2005, allotment of 5490 equity shares (relating to cases under litigation / pending clearance from concerned authorities) are kept in abeyance till 30th September, 2008.

The Company has adopted the Intrinsic Value method in keeping with the applicable regulatory pronouncements for accounting the stock options granted by the Company during the financial year 2006-07, which had no impact on the financial results of the Company. Had the fair value method been used in keeping with the said pronouncements, net results and earnings per share (basic and diluted) for the nine months would have been lower by Rs. 12.64 lacs and Re. 0.09 and for the quarter would have been lower by Rs. 3.45 lacs and Re. 0.02 respectively.

An amount of Rs. 461 lacs has been paid during the twelve months ended 31st March, 2008 by the Company to its employees who retired under the Company's Voluntary Retirement Scheme-2007. This amount is being charged off over the remaining period of service of the related employees or three years whichever is lower. Accordingly, an amount of Rs. 181 lacs, Rs. 115 lacs and Rs. 38 lacs has been charged off (included under exceptional items) during the year ended 31st March, 2008, nine months ended 31st December, 2008 and quarter ended 31st December, 2008 respectively.

The number of investor complaints received, disposed off and lying unresolved at the quarter ended 31st December, 2008 are as under:

Pending at the beginning of the quarter - 0

Received during the quarter - 10

Disposed off during the quarter - 10

Lying unresolved at the end of quarter - 0

Previous periods figures have been regrouped/rearranged where considered necessary.

The above results were reviewed by the Audit Committee and subsequently taken on record by the Committee of Directors at its meeting held on 30th January, 2009.

On behalf of the Board

Dated,

Apurv Nagpal

30th January, 2009

Managing Director

For investor greivances mail to : co.sec@saregama.co.in