TIPS Music Ltd (formerly Tips Industries Ltd.), one of India’s leading music labels, reported a strong performance for the quarter ended 30 September 2025, with continued double-digit growth. The company recorded a 15% year-on-year increase in revenue and an 8% rise in profit after tax (PAT) for the first half of FY26, reflecting steady demand for its extensive music catalogue and new releases across regional and mainstream markets.
Financial Highlights: Q2 FY26
| Particulars (₹ Cr) | Q2 FY26 | Q2 FY25 | YoY | Q1 FY26 | QoQ | H1 FY26 | H1 FY25 | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | 89.2 | 80.6 | 11% | 88.1 | 1% | 177.3 | 154.5 | 15% |
| Op. EBITDA | 67.8 | 59.5 | 14% | 56.5 | 20% | 124.4 | 113.8 | 9% |
| Op. EBITDA % | 76.0% | 73.8% | 64.2% | 70.1% | 73.7% | |||
| Op. EBIT | 71.7 | 64.5 | 11% | 61.6 | 16% | 133.3 | 122.9 | 8% |
| PAT | 53.2 | 48.2 | 10% | 45.7 | 16% | 98.9 | 91.7 | 8% |
| PAT Margin | 59.6% | 59.7% | 51.9% | 55.8% | 59.3% |
Key Highlights
- Revenue stood at ₹89.2 crore in Q2 FY26, up 11% YoY.
- Content cost for the quarter was ₹13.3 crore, a 4% decline YoY from ₹13.8 crore in Q2 FY25.
- Profit After Tax (PAT) reached ₹53.2 crore, reflecting a 10% YoY increase from ₹48.2 crore in Q2 FY25.
- A total of 133 songs were released during the quarter — 76 film tracks and 57 non-film tracks. Notably, the Telugu track “Vibe Undi” emerged as one of the biggest hits of the quarter.
- YouTube subscriber base expanded to 134 million.
- An interim dividend of ₹4 per share was declared for Q2 FY26, amounting to ₹51.13 crore. Total payout to shareholders stood at ₹102.26 crore.
Kumar Taurani, Chairman & Managing Director, said: “Despite the challenging industry environment, the company’s revenue grew by 15% YoY in the H1 FY26. Over the longer term, we expect strong business momentum, supported by sustained paid subscriber growth, beginning of ad revenue sharing from short-form content platforms, and robust expansion in the public performance segment. I am also pleased to share that the Board of Directors has declared a second interim dividend of ₹4 per share for the financial year 2026.”
Q2 FY26 Performance Highlights
- 133 songs released during the quarter: 76 film songs and 57 non-film songs.
- “Vibe Undi” from the Telugu film “Mirai” crossed over 69 million views on YouTube, ranking among the top five music videos of the quarter.
- “Raaj Karega Mallik” from the movie “Maalik” crossed 25 million views on YouTube.
- Catalogue performance on Meta was robust: “Tere Aane Se” (Run) achieved 1.50 billion views, “Saajan Saajan” (Dil Ka Rishta) hit 850 million, and “Kahin Aag Lage Lag Jaaye” (Taal) reached 700 million views during the quarter.
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