afaqs! news bureau

Tips Industries' standalone net profit increased by 40.53% in the March 2024 quarter

Tips Industries announces a 29 percent year-on-year increase in revenue.

Tips Music, an Indian music label that produces and profits from music, revealed its financial performance for the quarter and year ending on March 31, 2024.

Tips Industries saw a 22% rise in revenue in Q4, FY24, reaching Rs 63.3 crore from Rs 52 crore in Q4, FY23, with a net profit of Rs 25.8 crore in Q4, FY24. Additionally, the company generated a net profit of Rs 18.3 crore in the fourth quarter of fiscal year 2023.

The company reported a 29% rise in its operating revenue to Rs 241.6 crore in FY24 compared to Rs 186.8 crore in FY23. In FY24, the net profit increased by 66% to Rs 127.2 crore compared to Rs 76.52 crore in FY23. The organisation announced the launch of 179 new songs in the fourth quarter of fiscal year 24, with 123 being from films and 56 being non-film songs.

Tips Industries' YouTube channel has a subscriber count of 97 million, with Q4 FY24 views totaling 47.8 billion, showing a 42% increase from the previous year.

The cost of content in the quarter was Rs 23.9 crore, higher than the Rs 19 crore in Q4, FY23. The expenditure for FY24 amounted to Rs 55.6 crore.

Have news to share? Write to us