TIPS Industries reports revenue growth of 29 percent y-o-y

Recommendations Industries Minimal (Strategies Songs), a major Indian music label which creates and monetizes music, announced its Monetary Effects for the Quarter & Calendar year Ending March 31, 2024.

1. Experiences stellar quarterly revenue development with revenues of ₹ 63.3 Cr, reflecting a y-o-y progress of 22 %. Income for FY24 stood at ₹ 241.6 cr up 29 p.c y-o-y

2. The content material expense for the quarter stood at ₹ 23.9 Cr when compared to ₹ 19. Cr in Q4FY23. The Information expense for FY24 stood at ₹ 55.6 Cr.

3. For Q4FY24 the organization introduced 179 new tracks. Out of 179 new music, 123 had been new film tunes and 56 Non-Film tunes. Important releases through the last quarter “Choli ke Peeche”, “Naina” and “Ghagra” from Crew have been among Top 10 Trending tracks throughout key platforms. Our song Dil Laga Liya from the movie Dil Hai Tumhara crossed 1bn sights on YouTube.

4. YouTube subscribers now stand at 97 Mn. For Q4FY24 YouTube views have been 47.8 Bn up 42 percent y-o-y

5. The dividend for FY24 stood at ₹ 6 for every share taking the dividend payout ratio to 60.6 %. As a portion of our ongoing endeavours to reward our shareholders the Board of Administrators has declared buyback at Rs. 625 for each share, in which the promoters will not be participating.

Commenting on the effects, Kumar Taurani – chairman & running director mentioned: I am delighted to announce that the year 2023-24 marked significant growth for us, with revenues soaring by 29 p.c YoY to Rs. 242 cr. Revenue witnessed a remarkable surge, jumping by 66% YoY to Rs. 127 cr, a testomony to our strategic initiatives and operational efficiency.

In Q4FY24, we released 179 new songs, comprising 123 Film and 56 Non-Film tunes, underscoring our motivation to varied and participating material. Notably, “Choli ke Peeche”, “Naina”, and “Ghagra” from Crew emerged as Best 10 Trending tunes throughout significant platforms, reflecting our ability to resonate with audiences. Our music “Dil Laga Liya” from the film “Dil Hai Tumhara” surpassed 1 billion sights on YouTube, a important achievement that underscores the enduring level of popularity of our catalog songs.

Our focus continues to be steadfast on selectively attaining excellent songs rights, reflecting our dedication to delivering fantastic content material encounters. Seeking in advance to FY25, we anticipate a possible enhance in content expense, contingent on factors these kinds of as the availability of high-quality audio and the release calendar of movies.

In our motivation to increase shareholder benefit, for the duration of the yr we distributed a full dividend of ₹6 for every share and the Board of Directors also declared a buyback of shares at Rs. 625 for every share, in which the promoters have determined to abstain from participating.