The success of the Ranbir Kapoor, Katrina Kaif starrer Ajab Prem Ki Ghazab Kahani has charged up the quarter for Tips Industries Ltd (TIPS), which registered a 53.5 percent sequential rise in net profits at Rs. 69.78 million and revenues soared to Rs. 496.54 million in the quarter ended December 2009 compared to the Rs. 94.36 million registered in the previous quarter. Sales of audio products registered at Rs. 91.66 million, up 37.6 percent year on year but revenues from its film division contributed Rs. 496.8 million with a PBT of Rs. 99.85 million. The company released the audio of Ajab Prem.. too in the quarter. Details: Financials Expenditure Shoots Up The company has suffered a tenfold increase in expenses in the quarter to Rs. 401 million compared to Rs. 32.69 million recorded in the September 2009 quarter. Cost of production and distribution of films vaulted to Rs. 303.92 million in the quarter at much the same level as the company witnessed in the same quarter last year. Copyright and in-house music costs have fallen to Rs. 8.84 million year on year by 48 percent. Cost of raw materials is lower at Rs. 2.45 million compared to the Rs. 9 million the company experienced last year. TIPS has spent more on advertising in the quarter - it registered Rs. 60 million in advertising costs. EPS has risen to Rs. 4.03. Buyback Of Shares The company's shareholders have approved the buyback of equity shares not exceeding 25% of the paid up…
