MUMBAI: Tips Industries Limited (Tips Music), a leading Indian music label which creates and monetizes music, announced its Financial Results for the Quarter Ending June 30, 2024.
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Revenue from Operations Rs.73.9Cr
+40%
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Key Financial Performance
Op. EBITDA
Rs. 54.4Cr
+55%
Profit After Tax Rs. 43.6 Cr
+61%
Key Highlights:
Q1FY25 Revenue Rs. 73.9 Cr, reflecting a y-o-y growth of 40%.
The content cost for the quarter stood at Rs. 12.7 Cr compared to Rs. 12.2 Cr in Q1FY24, reflecting an increase of 4% compared to the previous year’s quarter.
In Q1FY25 the company launched a total of 97 new songs. Out of which, 18 were New Film songs and 79 Non-Film songs. Crew & Ishq Vishk Rebound are two back-to-back superhit music album releases.
YouTube subscribers base has now reached 104 mn. In Q1FY25 YouTube views were Rs. 62.2 Bn, up by 29% y-o-y.
The interim dividend for Q1FY25 stood at 2 per share amounting to Rs. 25.56 Cr. Total payout to shareholders including dividend and buyback is Rs. 72.18 Cr in FY25 so far.
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% YoY with a PAT of Rs. 43.6 Crores increasing by 61% 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.”
