TIPS Music Limited, a major Indian music label, has released its financial results for the second quarter ending September 30, 2024. The company reported revenue of Rs 80.6 crore, marking a 32% year-on-year increase. Net profit for the quarter grew by 21%, reaching Rs 48.2 crore. For the first half of FY25, revenue totalled Rs 154.5 crore, a 36% increase compared to the same period last year.
The company’s content cost for Q2FY25 rose significantly to Rs 13.8 crore, compared to Rs 4.7 crore in the previous year’s quarter, reflecting a 194% increase. This increase in cost comes as the company ramped up its music production efforts, launching a total of 125 new songs during the quarter. Out of these, 39 were from new films, and 86 were non-film songs.
The company’s digital presence also expanded during the quarter, with its YouTube subscriber base growing by 21%, reaching 108 million subscribers. This growth reflects the increasing reach of TIPS Music’s digital content.
The company declared an interim dividend of Rs 2 per share for the quarter, amounting to Rs 25.56 crore. In total, including the dividend and share buyback, TIPS Music has paid Rs 97.74 crore to shareholders in FY25 so far.