TIPS Industries Surges With A Remarkable 23% Year-On-Year Growth

TIPS Industries Limited, a prominent Indian label, known for creating and monetizing , has recently announced its financial results for the quarter ending on September 30, 2023. The report reveals a remarkable performance, showcasing substantial growth and noteworthy achievements.

In a significant milestone, TIPS Industries reported its highest-ever quarterly revenue, amounting to 60.9 Crores, reflecting an impressive 23% year-on-year growth. This financial achievement speaks volumes about the dedication and hard work of the entire TIPS team, underlining their commitment to delivering quality to audiences worldwide.

Notably, the revenue for the first half of FY24 stood at 113.5 Crores, representing a substantial 35% year-on-year increase. This performance reinforces TIPS Industries' position as a leading label in the industry.

During the second quarter of FY24, the company released a total of 130 new songs, a testament to their ability to cater to a wide spectrum of musical tastes and preferences. Out of these 130 new releases, 62 were captivating new film songs, while the remaining 68 were non-film songs, showcasing the label's versatile portfolio.

In the digital realm, TIPS Industries has garnered significant success on its YouTube channel. The subscriber count for the channel now stands at an impressive 89.7 million. Moreover, YouTube views for Q2 FY24 reached an astounding 50.9 billion, marking an outstanding 86% year-on-year increase. This digital presence underscores the popularity and resonance of TIPS Industries' repertoire in the online world.

As part of their ongoing efforts to drive innovation and growth, TIPS Industries welcomed Hari Nair as the new Chief Executive Officer. Mr. Nair brings over 25 years of diverse experience in media and technology to the company, with the last two decades dedicated to the ecosystem. His extensive background in the industry further strengthens the leadership team, instilling confidence in continued innovation and success within this dynamic industry.

Commenting on the financial results, Kumar Taurani, Chairman and Managing Director of TIPS Industries Limited, expressed his satisfaction with the company's achievements,he says““I am pleased to announce that Tips has achieved the highest ever quarterly revenue of Rs. 61 crore, representing a growth of 23% year-on-year. This achievement is a testament to the hard work and dedication of our entire team.During this period, we released a total of 130 new songs of which, 62 were captivating new film songs and 68 were non-film songs. This diverse range of music showcases our ability to cater to a wide spectrum of tastes and preferences, solidifying our position as one of the leading music labels in the industry.In the digital realm, our YouTube channel subscriber numbers have reached 89.7 mn while our YouTube views for Q2FY24 reached 50.9 bn up 86% y-o-y. This reflects the popularity of our repertoire. I want to share another positive development with you.  Hari Nair has recently joined us as our CEO. He has over 25 years of diverse experience in media and technology. Nair brings a wealth of knowledge and expertise to our organization. His extensive background in the music industry, spanning two decades, further strengthens our leadership team. I am confident that under his guidance, we will continue to innovate and thrive in this dynamic industry.I want to express my gratitude to all our stakeholders who have supported and believed in our vision. We remain committed to delivering exceptional music experiences and exploring new avenues for growth.”