Mumbai: Shemaroo Entertainment announced its financial results for the first quarter of FY23 recently. The company reported consolidated revenue from operations of Rs 96 crore, up by 28.4 per cent, and a Rs 20 lakh net profit.

Its digital media business generated Rs 48.1 crore in revenues, up by 19.3 per cent YoY. The company’s traditional media business generated Rs 47.9 crore in revenues, up by 39 per cent YoY.

Shemaroo’s expenses also grew to Rs 87.9 crore, up by 29.9 per cent YoY.

The company reported a flux in media viewership across traditional and digital platforms on account of increased mobility due to the Covid unlocking period. The advertising spends for traditional advertisers were affected due to rising input costs, uncertainty in the global economic environment, and supply chain disruptions. This was amplified by the slowdown in start-up funding, which impacted new-age advertisers.

Despite the challenges, the company delivered a strong performance in terms of revenue growth and maintained positive margins during the quarter.

Shemaroo launched its third free-to-air (FTA) Hindi general entertainment channel (GEC) Shemaroo Umang in April. The company began monetising the channel via advertisements in July. As per the company, Shemaroo Umang opened at the No. 2 position among FTA GECs and held on to that position until the end of the quarter.