eNews
TIPS industries reports 40 per cent revenue growth, 61 per cent PAT increase Y-o-Y
Mumbai: TIPS Industries Ltd (Tips Music), a music label which creates and monetises music, announced its financial results for the quarter ending 30 June 2024.
| Revenue from Operations | 73.9 | 52.6 | 40% | 63.3 | 17% | 241.6 | 186.8 | 29% |
| Op. EBITDA | 54.4 | 35.0 | 55% | 30.2 | 80% | 158.5 | 101.9 | 55% |
| Op. EBITDA % | 73.6% | 66.6% | 47.7% | 65.6% | 54.6% | |||
| Op. EBIT | 58.4 | 36.5 | 60% | 35.0 | 67% | 170.9 | 105.9 | 61% |
| PAT | 43.6 | 27.1 | 61% | 25.8 | 70% | 127.2 | 76.5 | 66% |
| PAT Margin | 58.9% | 51.5% | 40.7% | 52.7% | 41.0% |
Commenting on the Results,
Kumar Taurani – chairman & managing director said, “I am delighted to share with you that the Q1 FY2025 has been remarkable for us. Our revenue for the Quarter stood at Rs 73.9 Crores up by 40 per cent YoY with a PAT of Rs 43.6 Crores increasing by 61 per cnet YoY. This demonstrates our commitment to growing and improving our business. In Q1 FY25, we released around 97 new songs out of which, 18 were new Film songs and 79 Non-Film songs. Our primary focus is always on quality music. We have successfully completed the buyback of shares amounting to Rs 46.62 crores inclusive of all taxes for non-promoter shareholders. We remain committed to returning value to our shareholders.”
Girish Taurani – executive director said, “Last quarter, our notable releases ‘Choli ke Peeche’ and ‘Naina’ from the movie Crew each surpassed 100 million views on YouTube. Our track ‘Soni Soni’ from Ishq Vishk Rebound reached the top 10 on Spotify charts. Other songs from the film, including ‘Ishq Vishk Pyaar Vyaar’ and the revamped “Gore Gore Mukhde Pe” by Badshah, have also been well received, reflecting our dedication to delivering engaging music content.
Hari Nair – chief executive officer said, “Our music is experiencing solid growth across all digital platforms, with YouTube, Spotify, and Jio Saavn being key drivers for both new releases and our catalogue.”
eNews
PNB partners Kiwi to launch credit-enabled UPI for users
Targets 180 million customers; RuPay card offers 0.5 per cent to 1.5 per cent cashback
MUMBAI: Swipe, tap, or scan credit is quietly slipping into the rhythm of everyday payments, and Punjab National Bank wants in on the action. The state-run lender has partnered with Kiwi to roll out credit-enabled UPI payments for its 180 million customers, marking a significant push to blend traditional banking with India’s fast-evolving digital payments ecosystem.
At the centre of the collaboration is the launch of the PNB Kiwi Credit Card on the RuPay network. The card is designed with a digital-first approach, offering fully online onboarding and seamless integration with UPI, allowing users to transact via scan-and-pay while accessing credit.
The offering also brings in a rewards layer, with cashback ranging from 0.5 per cent to 1.5 per cent on online transactions, positioning the product as both a convenience play and a spending incentive.
The move comes as UPI continues to dominate India’s digital payments landscape, increasingly blurring the lines between debit-led transactions and credit access. For PNB, which operates over 10,000 branches around 60 per cent in semi-urban and rural areas, the partnership signals a targeted effort to extend formal credit to segments that have traditionally remained underserved.
The collaboration also reflects a broader industry shift, where banks and fintech platforms are converging to embed credit directly into payment flows, reducing friction while expanding access.
With RuPay credit cards gaining traction and UPI evolving beyond peer-to-peer transfers, the PNB–Kiwi tie-up positions both players at the intersection of scale, accessibility, and the next phase of digital finance in India.
