Tips Industries (TIL) shares were caught in a 5% higher circuit for the 4th day in a row on the BSE on Friday, at Rs 1,124.80, in this rather lacklustre market, after the firm announced a strong set of results for the March quarter (Q4FY21). The stock of the film and entertainment firm was trading at an all-time high.
The stock has gained 26% in the last week, compared to a 1.4 percent decrease in the S&P BSE Sensex. The stock is traded in the BSE’s T group and the NSE’s BE sector. Shares in the Trade-to-Trade or T-segment are exchanged in the BE series, and no intraday trading is permitted. This means that deals may only be resolved by accepting or delivering shares.
Tips Industries reported a consolidated net profit of Rs 18.3 crore in Q4FY21, up from Rs 0.40 crore in Q4FY20. Revenue from operations increased by 49.3% year on year to Rs 27.60 crore, up from Rs 18.5 crore in the previous quarter. The Ebitda (earnings before interest, taxes, depreciation, and amortisation) margin was 71.9 percent, up from 1.3 percent in the previous year’s third quarter.
To unleash the value of both companies and maximise shareholder value, the company’s board of directors approved the demerger of TIL into two distinct entities, Tips Industries and Tips Films, to transfer the film production business into a separate corporation.
On a monthly basis, 53% of Internet users view videos on YouTube, with the figure rising to 72% among those aged 18 to 24. Paid subscriptions accounted for 9.1% of the Indian music industry’s streaming earnings in 2019, and this figure is anticipated to rise to 31% by 2024. According to the firm, paid customers on streaming applications grew by 15% following Covid-19.
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Hello, my name is Anuj Boruah. I am quite interested in writing about current events in business, finance, and the economy. I work as a newswriter at Reviewminute.