Mumbai: TIPS Industries Ltd (Tips Music), a music label which creates and monetises music, announced its financial results for the quarter ending 30 June 2024.
| Revenue from Operations | 73.9 | 52.6 | 40% | 63.3 | 17% | 241.6 | 186.8 | 29% |
| Op. EBITDA | 54.4 | 35.0 | 55% | 30.2 | 80% | 158.5 | 101.9 | 55% |
| Op. EBITDA % | 73.6% | 66.6% | 47.7% | 65.6% | 54.6% | |||
| Op. EBIT | 58.4 | 36.5 | 60% | 35.0 | 67% | 170.9 | 105.9 | 61% |
| PAT | 43.6 | 27.1 | 61% | 25.8 | 70% | 127.2 | 76.5 | 66% |
| PAT Margin | 58.9% | 51.5% | 40.7% | 52.7% | 41.0% |
Commenting on the Results,
Kumar Taurani – chairman & managing director said, “I am delighted to share with you that the Q1 FY2025 has been remarkable for us. Our revenue for the Quarter stood at Rs 73.9 Crores up by 40 per cent YoY with a PAT of Rs 43.6 Crores increasing by 61 per cnet YoY. This demonstrates our commitment to growing and improving our business. In Q1 FY25, we released around 97 new songs out of which, 18 were new Film songs and 79 Non-Film songs. Our primary focus is always on quality music. We have successfully completed the buyback of shares amounting to Rs 46.62 crores inclusive of all taxes for non-promoter shareholders. We remain committed to returning value to our shareholders.”
Girish Taurani – executive director said, “Last quarter, our notable releases 'Choli ke Peeche' and 'Naina' from the movie Crew each surpassed 100 million views on YouTube. Our track 'Soni Soni' from Ishq Vishk Rebound reached the top 10 on Spotify charts. Other songs from the film, including 'Ishq Vishk Pyaar Vyaar' and the revamped “Gore Gore Mukhde Pe” by Badshah, have also been well received, reflecting our dedication to delivering engaging music content.
Hari Nair – chief executive officer said, “Our music is experiencing solid growth across all digital platforms, with YouTube, Spotify, and Jio Saavn being key drivers for both new releases and our catalogue.”
