iWorld
Tips strikes a high note with Q3 gains and a Rs 5 interim dividend
MUMBAI: When the music pays, the market listens and Tips Music Limited has given investors something to hum about this quarter. The Mumbai-based music label closed the December 2025 quarter on a firm beat, reporting steady financial performance alongside the declaration of a third interim dividend of Rs 5 per equity share, underscoring confidence in its cash flows and catalogue-led business. The decision was approved at the company’s board meeting held on 19 January 2026, with 23 January 2026 fixed as the record date and payouts scheduled on or before 13 February 2026.
For the quarter ended 31 December 2025, Tips Music reported revenue from operations of Rs 94.29 crore, compared with Rs 89.22 crore in the preceding quarter, reflecting consistent monetisation across audio and video platforms. Total income stood at Rs 99.09 crore, supported by other income of Rs 4.80 crore. Profit after tax for the quarter came in at Rs 58.66 crore, up from Rs 45.14 crore in the September quarter, while earnings per share rose to Rs 4.59, from Rs 4.16 in Q2 FY26.
On a nine-month basis, the company posted revenue of Rs 271.58 crore and a net profit of Rs 157.59 crore, highlighting the durability of its content-led model amid a rapidly evolving digital music economy. The company continues to operate as a single-segment business focused on audio and video products, with no subsidiaries or joint ventures as of the reporting period
The board’s decision to announce a third interim dividend amounting to 500 per cent on the face value of Re 1 per share reflects a shareholder-friendly stance at a time when music streaming revenues remain resilient and catalogue value continues to compound.
With consistent quarterly numbers, a strong profit profile and repeat dividends, Tips Music appears to be keeping its rhythm steady proving that in the streaming era, owning the hits can still strike the right financial chord
Gaming
MTG gaming chief Benninghoff joins NODWIN board as esports firm primes for IPO
The Gurugram-based esports firm is pursuing a public listing, has returned to profitability and is growing revenues by 42 per cent
GURUGRAM: NODWIN Gaming is moving fast. The Gurugram-based gaming and esports company has launched a pre-IPO fundraising round, appointed UBS as lead adviser for both the round and a subsequent public listing, and landed a heavyweight board director, all in one go.
The new board member is Arnd Benninghoff, executive vice president of gaming at Stockholm-listed Modern Times Group (MTG), who has overseen the group’s strategic investments and portfolio growth since 2014. He is no stranger to building things: Benninghoff has founded and built fifteen companies, served as chief digital officer at ProSiebenSat.1 Media AG, managing director of SevenVentures, and chief executive of Holtzbrinck eLAB. He began his career as a journalist at Deutsche Presse Agentur and various TV networks, holds a Diplom-Kaufmann in business and administration from the University of Münster, and previously sat on the board of Edgeware AB.
The numbers back the ambition
NODWIN is not pitching a story without substance. The company has returned to EBITDA profitability and posted a 42 per cent year-on-year revenue surge, reaching $58.5m in the first nine months of FY2026. The pre-IPO round will combine a primary issuance to fund global expansion through organic growth and acquisitions, alongside a secondary sale to give existing shareholders some liquidity.
Akshat Rathee, co-founder and managing director of NODWIN Gaming, said Benninghoff understands “the entire lifecycle of the gaming and media ecosystem, from the boots-on-the-ground reality of building startups to the strategic complexity of managing multi-billion dollar global portfolios.”
Benninghoff, for his part, said the company “sits at the intersection of sports, entertainment, and technology, making it one of the most exciting players in the global gaming landscape today.”
A portfolio built for the global south
Founded in 2014 by Rathee and Gautam Virk, NODWIN has quietly assembled one of the more compelling esports portfolios outside the Western hemisphere. Its properties include DreamHack India and Comic Con India, and it recently acquired StarLadder, the Ukraine-based tournament organiser behind premier events in CS:GO and Dota 2. The company also serves as a long-term strategic marketing partner for the Evolution Championship Series (EVO), the world’s most prominent fighting game tournament, helping push it into new geographies.
Its geographic focus spans South Asia, Central Asia, Southeast Asia, the Middle East and Africa. Backers include Nazara Technologies, KRAFTON, Sony Group Corporation, JetSynthesys, and the founders’ investment vehicle Good Game Investments.
What comes next
With UBS running the books, a board freshly reinforced with European media and gaming expertise, and revenue heading in the right direction, NODWIN is laying the groundwork deliberately. The esports industry has burned investors before with big promises and thin margins. NODWIN’s return to profitability, combined with a real portfolio of owned intellectual properties across gaming, music and youth culture, gives it a more credible runway than most. The IPO clock is now ticking.
