TIPS Industries Reports Q1FY25 Results: 40% Revenue Growth and 61% PAT Increase Year-on-Year

by  EVENTFAQS Bureau Industry Watch | July 25, 2024 | News

TIPS Industries Tips Music

TIPS Industries (Tips Music), an Indian music label that creates and monetizes music, announced its Financial Results for the Quarter Ending June 30, 2024. In Q1FY25, the company reported a revenue of ₹ 73.9 crore, reflecting a year-on-year growth of 40%. The content cost for the quarter increased by 4%, reaching ₹ 12.7 crore compared to ₹ 12.2 crore in Q1FY24.

During this period, the company released 97 new songs, which included 18 new film songs and 79 non-film songs. Notably, the albums "Crew" and "Ishq Vishk Rebound" achieved success in the market. The company's YouTube subscriber base expanded to 104 million, with total views reaching 62.2 billion, up by 29% year-on-year. For Q1FY25, the company declared an interim dividend of ₹ 2 per share, amounting to ₹ 25.56 crore. Including this dividend and a buyback, the total payout to shareholders for FY25 so far is ₹ 72.18 crore.

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 ₹ 73.9 Crores up by 40% YoY with a PAT of ₹ 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.”