Tips Music Ltd.Revenue ₹120 Cr +35%, EBITDA margin 70.5%

Tips Music reported Q2 FY27 revenue of ₹120 crore, up 35% year-on-year, with operating EBITDA of ₹84.64 crore, up 25%, at a 70.5% margin and profit after tax of ₹65.5 crore, up 23%.

H1 revenue was ₹227 crore, up 28%, but H1 PAT grew only 11% to ₹109 crore because content cost of ₹71 crore was front-loaded; the company expenses all content cost in the year of release. Digital contributed 73% of H1 revenue and paid subscriptions are 10% to 15% of the digital pool. The company released 73 songs in the quarter, completed a ₹44.44 crore buyback and declared an interim dividend of ₹6.5 per share. Management kept full-year content cost at ₹90 crore to ₹100 crore, said it will exceed its 20% revenue and PAT growth guidance without naming a number, and said the YouTube Shorts deal is still under negotiation, with most of it expected this quarter. The Warner agreement comes up for renewal in FY28 and the company is still searching for a CEO.