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Tips Industries’ revenue from operation down 31% YoY to Rs 47 crore in FY17

Film and music production and distribution company Tips Industries Ltd (TIPS) has reported a total revenue of Rs 66.41 crore for the financial year ended March 31, 2017 (FY17), down 7.11% year-on-year (YoY) from Rs 71.50 crore in FY16. While revenue from operations stood at Rs 47.01 crore for FY17, down 31.31% YoY from Rs 68.44 crore in FY16.

The company posted a net profit of Rs 3.44 crore in FY17, an increase of 13.53% YoY from a profit of Rs 3.03 crore in FY16.

Tips Industries posted revenue of Rs 24.76 crore for the quarter ended March 31, 2017 (Q4 FY17), almost double the Rs 12.85 crore revenue reported in Q3 FY17, but down 29.5% from the corresponding quarter in the previous year. The company reported a net profit of Rs 0.63 crore for Q4 FY17, down 54% from a profit of Rs 1.37 crore in the previous quarter, and almost three times the Rs 0.21 crore profit posted in the corresponding quarter in the previous year.

Audio products: Audio Products division reported revenue of Rs 31.95 crore for FY17, a significant downturn of 30.7% from Rs 46.1 crore in FY16. The segment posted PBIT of Rs 27.74 crore in FY17, down 28.44% from Rs 38.77 crore in FY16.

The audio products segment posted revenue of Rs 10.17 crore for Q4 FY17, up 67% from Rs 6.09 crore in Q3 FY17, and down 45% from Rs 18.52 crore in Q4 FY16. The segment posted a profit of Rs 9.15 crore for Q4 FY17, up 80.5% from Rs 5.07 crore in Q3 FY17, and down 36.63% from Rs 14.44 crore in Q4 FY16.

Film distribution and production: Film distribution and production division posted revenue of Rs 15.06 crore in FY17, down 32.58% from Rs 22.34 crore in FY16. The segment reported a loss (before Interest and Tax) of Rs 20.53 crore in FY17, as compared to a loss of Rs 13.5 crore in FY16.

The film distribution and production segment reported revenue of Rs 2.24 crore for Q4 FY17, up 86.7% from Rs 1.20 crore in Q3 FY17, but significantly less from Rs 14.84 crore revenue in Q4 FY16. The segment posted a loss of Rs 15.82 crore in Q4 FY17.

Download: Financials (pdf)

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