Tips Industries posted revenue from operations for Q2, FY24, stood at Rs 60.9 crore from Rs 49.6 crore in Q2, FY23, while the net profit for Q2, FY24 stood at Rs 39.7 crore. Moreover, the company recorded a net profit of Rs 20.8 crore in Q2, FY23. The company stated that it had released 130 new songs in Q2, FY24, of which 62 were new film songs and 68 were non-film songs.
“This diverse range of music showcases our ability to cater to a wide spectrum of tastes and preferences, solidifying our position as one of the leading music labels in the industry. In the digital realm, our YouTube channel subscriber numbers have reached 89.7 mn while our YouTube views for Q2FY24 reached 50.9 bn up 86% y-o-y. This reflects the popularity of our repertoire,” Kumar Taurani, chairman and managing director, Tips Industries, said in a statement.
YouTube subscribers for Tips Industries stood at 89.7 million subscribers while YouTube views for Q2, FY24 were 50.9 billion, an increase of 86% year-on-year.
Additionally, the company announced the appointment of Hari Nair as the CEO. “He has over 25 years of diverse experience in media and technology. Mr. Nair brings a wealth of knowledge and expertise to our organization. His extensive background in the music industry, spanning two decades, further strengthens our leadership team,” Taurani, added.