TIPS Music Ltd (formerly Tips Industries Ltd.), a leading Indian music label, announced its Financial Results for the Quarter Ending September 30, 2024.
Kumar Taurani – Chairman & Managing Director said, “I am pleased to share that the company has announced a 2nd 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.”
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.”
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.”
