Its stock has risen 400% in 12 months even as it reported the best ever profit in four decades. What’s changed for India’s third largest music label?
In its over 40 years of existence, music label and film production, promotion and distribution company Tips Industries’s profits have largely remained in single digits. But in 2020-21, the company’s net profit jumped to Rs 59 crore and, in the first six months of the current financial year, it has already made Rs 47 crore.
Again, despite being listed for over two decades, Tips has never been valued at more than Rs 200 crore; in fact, as recently as 18 months ago, it was at Rs 112 crore. Today, it is valued at over Rs 2,734 crore, with its shares …
Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.
Executive Editor
surendar@mailtmc.com
Mumbai