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FY-2015: Tips reports PAT of Rs 2.7 crore

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BENGALURU: Tips Industries Limited?s reported PAT of Rs 2.7 crore in FY-2015 as compared to a loss of Rs 16.24 crore in the previous financial year. The company?s Q4-2015 performance was marred by the operating loss by its film distribution and production segment that reported an operating loss of Rs 12.53 crore, hence wiping out completely and more the operating profit of Rs 7.63 crore reported by its other segment ? Audio Products.

The company reported a loss of Rs 7.67 crore in Q4-2015 as compared to a loss of Rs 0.70 crore in the corresponding year ago quarter and a loss of Rs 3.08 crore in Q3-2015.

Note: 100,00,000 = 100 lakh = 10 million = 1 crore

Let us look at the other numbers reported by Tips:

Tips reported 1.3 per cent decline in total income from operations (TIO) in FY-2015 to Rs 102.35 crore from Rs 103.67 crore in FY-2014. Q3-2015 TIO increased 12.5 per cent to Rs 10.21 crore from Rs 9.08 crore in Q4-2014 and increased 70.8 per cent from Rs 5.98 crore in the immediate trailing quarter.

Total Expenditure (TE) in FY-2015 declined 19.7 per cent to Rs 88.95 crore as compared to the Rs 110.80 crore in FY-2014. In Q4-2015, TE more than doubled (increased to 2.33 times) to Rs 17.24 crore as compared to the Rs 7.38 crore in Q4-2014 and was 2.38 times more than the Rs 7.23 crore in Q3-2015. Higher TE in Q4-2015 was due to higher cost of production/distribution of films, which is the major expense head for the company.

Tips incurred more than fivefold (5.68 times) increase in cost of production/distribution of films at Rs 12.01 crore in Q4-2014 as compared to the Rs 2.11 crore in Q4-2014 and more than quadruple (4.03 times) the Rs 2.98 crore reported in Q3-2015.

Segment numbers:

Audio Products

Audio Product sales/income in FY-2015 improved five per cent to Rs 32.22 crore from Rs 30.52 crore in FY-2015. In Q4-2015, sales/income from this segment at Rs 10.16 crore was 9.6 per cent higher than the Rs 9.27 crore in Q4-2014 and 69.9 per cent more than the Rs 5.98 crore in Q3-2015.

Audio Product segment reported a 2.7 per cent decline in operating profit to Rs 22.01 crore in FY-2015 from Rs 22.72 crore in FY-2014. As mentioned above, Audio Products segment reported an operating profit of Rs 7.63 crore in Q4-2015, which was 5.7 per cent more than the Rs 7.22 crore in Q4-2014 and 66.9 per cent more than the Rs 4.57 crore in Q3-2015.

Film Distribution/Production

This segment reported 4.1 per cent decline in income to Rs 70.13 crore in FY-2015 from Rs 72.14 crore in FY-2014. Q4-2015 income was Rs 0.053 crore as compared to a negative Rs 0.19 crore in Q4-2014 and Nil in Q3-2015.

As mentioned above, this segment reported operating profit of Rs 0.54 crore in FY-2015 as compared to a loss of Rs 17.53 crore in FY-2015. The segment reported higher loss in Q4-2014 at Rs 12.63 crore as compared to an operating loss of Rs 3.16 crore in the corresponding year ago quarter and an operating loss of Rs 3.45 crore in the immediate preceding quarter.

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