Revenue Growth
Tips Industries, an Indian music label known for producing and profiting from music, has reported a 22% rise in revenue in Q4, FY24. The revenue reached Rs 63.3 crore, up from Rs 52 crore in Q4, FY23.
Increase in Net Profit
The company’s net profit for Q4, FY24 was Rs 25.8 crore, marking a significant increase from the net profit of Rs 18.3 crore in the fourth quarter of fiscal year 2023. This represents a 40.53% increase in standalone net profit.
Operating Revenue and Net Profit
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. Furthermore, the net profit in FY24 increased by 66% to Rs 127.2 crore, compared to Rs 76.52 crore in FY23.
New Song Releases
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.
YouTube Channel Performance
Tips Industries’ YouTube channel has a subscriber count of 97 million, with Q4 FY24 views totalling 47.8 billion, showing a 42% increase from the previous year.
Content Cost
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.
This financial performance underscores Tips Industries’ strong position in the music industry and its continued growth trajectory.
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