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Tips Music shares jump after Q1 revenue rises and buyback proposal
The company reported Q1 FY27 revenue of ₹106.5 crore, up 21% year-on-year, alongside a planned August 5 board meeting to consider a share buyback.
Tips Music shares surged 13.5% on Thursday, reaching an intraday high of ₹707.90, after the company posted its June quarter results. LiveMint Markets said the stock moved higher following the release made after market hours on Wednesday.
The company reported Q1 FY27 revenue of ₹106.5 crore, up 21% year-on-year, with operating EBITDA of ₹53.5 crore and margins at 50.3%, down from 64.2% in Q1 FY26. Net profit came in at ₹43.9 crore, down 4% from ₹45.7 crore a year earlier.
LiveMint Markets attributed part of the performance to continued investment in its music content portfolio. Content acquisition costs rose 90% year-on-year to ₹44.6 crore, and the company released 73 new songs during the quarter.
The company also scheduled a board meeting for August 5, 2026, to consider a proposal for a share buyback, reinforcing its stated focus on enhancing shareholder value, according to LiveMint Markets.