TIPS Industries records 87.3% increase in Q1 revenue at Rs 28.1 crore
The PAT margin came in at 50.1% compared to 38.9%
Film entertainment company TIPS Industries has reported an 87.3% rise in revenue at Rs 28.1 crore for the quarter ended 30th June from Rs 15 crore in the same quarter of the previous fiscal. Expenses stood at Rs 9.4 crore as against Rs 6.8 crore in the previous fiscal.
The company's EBITDA registered a 122.7% jump at Rs 19.6 crore compared to Rs 8.8 crore a year ago. The EBITDA margin stood at 67.3%, compared to 56% a year ago. Net profit rose 139.3% to Rs 14.6 crore compared to Rs 6.1 crore. The PAT margin came in at 50.1% compared to 38.9%.
TIPS has a music catalogue of over 29,000 songs across genres, languages, and decades. In Q1 FY22, the company added 61 new songs. In FY21, the total additions stood at 215 songs, compared to 100 songs in FY20. TIPS' YouTube channels witnessed 8% QoQ growth in viewership at 12.8 billion views.
The company produces as well as acquires music content. The content acquisition is funded only through internal accruals. It also has a strong A&R team to acquire content across languages & genres. The company has signed five artistes exclusively.
The company's catalogue is available on all the leading online music stores, applications, and web platforms including YouTube, Resso, Amazon Prime, JioSaavn and Facebook. It also has syndication deals with Maddock Films, Excel Entertainment, Aamir Khan Productions, Dharma Productions, Netflix, Viacom18, Ogilvy, Fremantle, Tata Sky, McCann besides broadcasters like Star India, ZEEL, Sony Pictures, and Viacom18.
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