Business Daily from THE HINDU group of publications
Thursday, Sep 21, 2006
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Business Daily from THE HINDU group of publications Thursday, Sep 21, 2006 ePaper |
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Corporate
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Outlook Saregama to focus on tech to step up profits Our Bureau
Kolkata , Sept. 20 RPG Group's Saregama India Ltd will soon complete the digitisation of its musical repertoire and focus more on technology for operational efficiency to improve its bottomline. Addressing a press conference, Mr Sanjiv Goenka, Vice-Chairman of the company, said that Saregama registered 80 per cent growth in profitability in the last financial year and 50 per cent growth in the first quarter of 2006-07. "This we have achieved despite a shrinking cassette market. Saregama has appointed SAP to implement an enterprise resource planning (ERP) application software at a cost of Rs 4 crore. The software will be installed by Siemens before the end of March 2007. "Our business may appear extremely simple but it has a complex operation. The implementation of the ERP will help improve our operation because we are managing more than 8,000 artistes," Mr Goenka said. According to Mr Subroto Chattapadhyay, Managing Director of Saregama, the ERP also features an IPR management aspect. "Moreover, we are looking at wireless distribution of music. We are hosting an online marketplace for digital music and films," he said. Mr Goenka also spoke at length about the company's film ventures and added that Saregama is investing around Rs 20 crore on three films. Saregama's Indo-US English film Karma Confessions and Holi will be released in the next financial year, keeping in mind international tastes. The company posted a total income of Rs 118.87 crore and net profit of Rs 8.87 crore for the year ended March 2006
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