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| Exchange Disseminated Time | Saregama India Ltd has posted a net loss of Rs 131.50 million for the quarter ended June 30, 2002 as compared to a net loss of Rs 6.50 million for the quarter ended June 30, 2001. Total Income has decreased from Rs 296.80 million for the quarter ended June 30, 2001 to Rs 236.50 million in the quarter ended June 30, 2002.
Commenting on the performance of the Company, Mr Abhik Mitra, Managing Director said that the loss in the current quarter is due to the increased royalty costs on account of films released during the quarter that did not achieve expected volumes due to failure of film/music and also due to higher piracy of MP3 ACDs/VCDs. |
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