India's Tips Industries hits record high on earnings boost

Tips Music

25/07/2023 10:08

** Shares of Tips Industries  TIPS.NS  rise as much as 8.42%
to a record high of 315.95 rupees
    ** Rise comes after the media and entertainment co reports
58% rise in net profit after tax; income from operations jumps
54% 
    ** Core profit rises nearly 56%; core profit margin expands
to 66.55% from 65.59% Y/Y
    ** Stock most active in over two years with trading volume
at 1.57 mln shares as of 2:20 p.m. IST, six times the 30-day avg
- Refinitiv data
    ** Including day's gains, stock up 69.43% in 2023 so far
compared to 1.13% slide in media index  .NIFTYMED 

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))