Tips Industries Ltd (TIPS) has recorded a net loss of Rs. 2.49 million for the quarter, compared to a profit of Rs. 7.46 million in Q3. Revenues rose to Rs. 99.61 million as did expenses, which rose by 51% to Rs. 88.8 million from the previous quarter. Cost of production and distribution of films (nil last quarter) dropped drastically to Rs. 1.24 million from Rs. 498.5 million in Q4 last year. Copyrights and in-house music costs also dropped by 10% to Rs. 4 million compared to Rs. 40.8 million in Q4 08; it was Rs. 17 million last quarter. Depreciation expenses stood stable over the quarters at Rs. 2.38 million, while raw material costs dropped by 52% to Rs. 4.34 million. Employee costs also fell to Rs. 6.52 million. Basic EPS touched down at -Rs. 0.14 compared to Rs. 6.49 in the corresponding quarter last year. The board had proposed a 11% dividend at Rs. 1.1 per share for the fiscal 2008-09. Details: Tips Q4 & YoY Financials (PDF) BuyBack The company's board has approved the buy-back of fully paid equity shares from the open market. The shares were priced at Rs 10 each for a maximum amount of Rs 198 million, amounting to approximately 25% of the existing paid up equity share capital plus free reserves of Tips. Their buyback price will not exceed Rs 75 per equity share. Artist Management Division? Segment Results Strangely, the company no longer include its Artist Management Division, saying only that the company…
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