Saregama India aims to pick up Karan Johar's Dharma Productions: Report

With volatile box office fortunes and rising star costs, the road has been difficult for Dharma Productions, which has been seeking investments from conglomerates and industrialists, Mint said.

RP-Sanjiv Goenka Group-led Saregama India Ltd is in discussion to pick up a majority stake in Bollywood producer and director Karan Johar’s Dharma Productions, business daily Mint reported on October 7.

The music company, which has been trying to make a mark in the movie and OTT space, earlier acquired Pocket Aces Pictures and is now aiming to boost its content catalogue, the newspaper said.

However, the Dharma deal has not reached the final stages yet and may still not go through, the report said, citing sources.

With volatile box office fortunes and rising star costs, the road has been difficult for Dharma Productions, which has been seeking investments from conglomerates and industrialists, Mint said.

Moneycontrol could not independently verify the report.

The company’s net sales stood at Rs 205.28 crore in June quarter, up 25.68 percent from Rs 163.34 crore in the year-ago period. Quarterly net profit was down 15.09 percent to Rs. 36.92 crore in the first quarter of the current financial year from Rs 43.48 crore last year.

EBITDA was at Rs 63.64 crore in the reported quarter, down 5.8 percent from Rs. 67.56 crore in June 2023.