Revenue Growth of 32% y-o-y & PAT Growth of 21% y-o-y
TIPS Music Ltd (formerly Tips Industries Ltd.), a leading Indian music label, announced its Financial Results for the Quarter Ending September 30, 2024.
Key Highlights:
✔ Q2FY25 Revenue ₹ 80.6 Cr, reflecting a y-o-y growth of 32%. Revenue for H1 FY25 stood at ₹ 154.5 Cr up 36% y-o-y
✔ The content cost for the quarter stood at ₹ 13.8 Cr compared to ₹ 4.7 Cr in Q2FY24, reflecting an increase of 194% compared to the previous year’s quarter
✔ In Q2FY25 the company launched a total of 125 new songs. Out of which, 39 were New Film songs and 86 Non-Film songs
✔ YouTube subscribers registered a growth of 21% reaching 108 mn
✔ The interim dividend for Q2FY25 stood at ₹ 2 per share amounting to ₹ 25.56 Cr. Total payout to shareholders including dividend and buyback is ₹97.74 Cr in FY25 so far.
Commenting on the Results,
Mr. Kumar Taurani – Chairman & Managing Director said, “I am pleased to share that the company has announced a 2 nd interim dividend for the year of Rs. 2 per share, in addition to interim dividend distributed and buyback conducted in Q1FY25. Our revenue for the quarter stood at ₹ 80.6 Cr up by 32% YOY with a PAT of ₹ 48.2 Cr increasing by 21% YOY. Our relentless focus is on acquiring high-quality music content.”
Mr. Girish Taurani – Executive Director said, “In Q2FY2025 we successfully launched 125 new songs, of which, 39 were new Film songs and 86 Non-Film songs, resulting in a diverse range of offerings that cater to a wide audience. This quarter, we released two musical short films, “Tedi Medi” and “Beinteha”, both of which have received significant appreciation from the audience. A notable release for this quarter is the song “Yaad Reh Jaati Hai” from the film “The Buckingham Murders”, sung by the renowned B Praak, along with another song released this quarter “Dua Kijiye”. Both tracks have gained popularity and continue to grow with our audiences.”
Mr. Hari Nair – Chief Executive Officer said, “Our YouTube channels cumulative subscriber base has now reached 108 million, reflecting our growing influence and engagement. The market share on audio digital platforms like Spotify, Saavn etc is increasing steadily. Additionally, the new division of “Brands & Partnership” has started clocking revenues; Motorola used our track “Rangeela Re”, for launching its new set of colorful handsets”