Movies and Entertainment company Tips Industries announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Quarterly Revenue Growth: TIPS Industries reported revenues of Rs 63.3 crore in Q4FY24, marking a YoY increase of 22%. Quarterly Operating EBITDA: Registered at Rs 30.2 crore in Q4FY24, with a growth of 14% over the same quarter the previous year. Quarterly Profit After Tax (PAT): Recorded a significant rise of 41%, amounting to Rs 25.8 crore for Q4 FY24. FY24 Financial Highlights: Annual Revenue Growth: For Fiscal Year FY24, revenue stood at Rs 241.6 crore, up by 29% compared to the previous fiscal year. Annual Operating EBITDA: The company saw an increase of 55%, with a figure of Rs 158.5 crore for FY24. Annual Profit After Tax (PAT): TIPS Industries saw an impressive increase of 66% in PAT, totaling Rs 127.2 crore for FY24. Content Costs and Releases: - The content cost for Q4FY24 was Rs 23.9 crore, and Rs 55.6 crore for the full fiscal year. - TIPS released 179 new songs in the fourth quarter, with 123 being film songs and 56 non-film songs. Dividends and Share Buyback: - The company announced a dividend of Rs 6 per share for FY24, with a payout ratio standing at 60.6%. - A share buyback program at Rs 625 per share was also initiated, with no participation from the promoters. Commenting on the Results, Kumar Taurani – Chairman & Managing Director said, “I am pleased to announce that the year 2023-24 marked substantial growth for us, with revenues soaring by 29% YoY to Rs 242 crore. Profits witnessed a remarkable surge, jumping by 66% YoY to Rs 127 crore, a testament to our strategic initiatives and operational efficiency. In Q4FY24, we released 179 new songs, comprising 123 Film and 56 Non-Film songs, underscoring our commitment to diverse and engaging content. Notably, "Choli ke Peeche", "Naina", and "Ghagra" from Crew emerged as Top 10 Trending songs across major platforms, reflecting our ability to resonate with audiences. Our song "Dil Laga Liya" from the film "Dil Hai Tumhara" surpassed 1 billion views on YouTube, a significant achievement that underscores the enduring popularity of our catalog music. Our focus remains steadfast on selectively acquiring quality music rights, reflecting our commitment to delivering exceptional content experiences. Looking ahead to FY25, we anticipate a potential increase in content investment, contingent upon factors such as the availability of quality music and the release calendar of films. In our commitment to enhance shareholder value, during the year we distributed a total dividend of Rs 6 per share and the Board of Directors also announced a buyback of shares at Rs 625 per share, in which the promoters have decided to abstain from participating." Result PDF
Conference Call with Tips Industries Management and Analysts on Q2FY24 Performance and Outlook. Listen to the full earnings transcript.
Movies & Entertainment company Tips Industries announced Q1FY24 results: Highest-ever quarterly revenue growth. Revenue for Q1FY24 was Rs 52.6 crore, a growth of 54% YoY Operating EBITDA for Q1FY24 was Rs 35 crore, up 56% YoY The content cost for Q1FY24 was Rs 12.2 crore which has risen by 61% over Q1FY23 Profit after tax of Rs 27.1 crore, up 58% YoY For Q1FY24 the company released 259 new songs. Out of 259 new songs, 56 were new film songs and 203 non-film songs. YouTube subscribers now stand at 85.5 million. For Q1FY24 YouTube views were 48.3 billion up 132% YoY The board of directors has approved an interim dividend of Re 1.00 per share; as part of our ongoing efforts to reward our shareholders. Commenting on the Results, Kumar Taurani – Chairman & Managing Director said, “I am delighted to announce that we have achieved our best-ever quarter performance, with remarkable revenue growth of 54% YoY. These outstanding results reflect the efficacy of our strategic initiatives and the dedication of our team. During this quarter, we remained focused on our core objective of delivering captivating music to our diverse audience base. I am elated to announce that we released a total of 259 new songs during this period. Our consistent gains in market share and the continuous improvement in our rankings signify the effectiveness of our business approach, our ability to adapt to changing market dynamics, and most importantly, the loyalty and support of our valued customers. Looking ahead, we are committed to sustaining this momentum and pursuing avenues for further expansion. Our focus remains on nurturing talent, creating compelling music content, and enhancing our market presence through strategic collaborations and partnerships. I want to extend my gratitude to our Investors who supported and believed in our vision. We are committed to creating sustainable growth and value for all our stakeholders.” Result PDF