TIPS Industries Achieves 40% Revenue Growth, 61% PAT Surge In Q1 FY25

TIPS Industries Limited (Tips Music), a leading Indian music label known for creating and monetizing music, has announced its financial results for the quarter ending June 30, 2024. The company has reported robust growth in revenue and profitability, underscoring its strong performance in the music industry.

Financial Highlights for Q1 FY25:

• Revenue from Operations: ?73.9 crore, a year-over-year growth of 40%.
• Operational EBITDA: ?54.4 crore, up by 55% compared to the previous year.
• Profit After Tax (PAT): ?43.6 crore, reflecting a significant increase of 61% year-over-year.

Key Performance Indicators:

• The content cost for the quarter was ?12.7 crore, up 4% from ?12.2 crore in Q1 FY24.
• The company launched a total of 97 new songs in Q1 FY25, comprising 18 new film songs and 79 non-film songs. Notable releases included the superhit music albums "Crew" and "Ishq Vishk Rebound."
• TIPS' YouTube subscriber base has now reached 104 million, with Q1 FY25 YouTube views soaring to 62.2 billion, marking a 29% increase year-over-year.
• An interim dividend of ?2 per share was declared for Q1 FY25, amounting to ?25.56 crore. The total payout to shareholders, including dividends and buybacks, stands at ?72.18 crore for FY25 so far.

Kumar Taurani, Chairman & Managing Director of TIPS Industries Limited, expressed his satisfaction with the company's performance: "I am delighted to share that Q1 FY2025 has been remarkable for us. Our revenue for the quarter stood at ?73.9 crore, up by 40% year-over-year, with a PAT of ?43.6 crore, increasing by 61% year-over-year. 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 ?46.62 crore, inclusive of all taxes, for non-promoter shareholders. We remain committed to returning value to our shareholders."

Girish Taurani, Executive Director, highlighted some notable achievements,"Last quarter, our 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, added, "Our music is experiencing solid growth across all digital platforms, with YouTube, Spotify, and JioSaavn being key drivers for both new releases and our catalogue."

The company's strong financial results and strategic focus on quality music content and digital growth highlight its leadership in the Indian music industry.