Tips Industries Hits 52-Week High After Rs 248 Crore Deal; Q3 Profits Surge 72%

29 Jan 2024 , 12:14 PM

Tips Industries saw a surge of nearly 6% to reach a 52-week high of Rs 433.45 in early trade on January 29 following a Rs 248 crore deal.

Approximately 65 lakh shares, representing a 5.1% equity, were traded at a floor price of Rs 380 per share, indicating a 7.5% discount from the previous closing price.

In the December quarter, the company reported a 72% YoY increase in net profit to Rs 34.7 crore, with revenue rising 27% to Rs 64.8 crore.

According to Kumar Taurani, Chairman & Managing Director, the company successfully launched 165 new songs in Q3FY24, including 82 new film songs and 83 non-film songs. Their YouTube presence boasts 93 million subscribers, with a recorded 47 billion views in Q3FY24 alone, reflecting a 52% YoY growth.

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