Shares of Tips Industries Ltd fell over 3 percent in morning trade on December 20 after a huge block deal recorded around 7.8 million shares or 6 percent stake of the company changing hands, according to Bloomberg.
However, details of the buyers and sellers were not known.
At 9.43am, the stock was trading at Rs 353 on the BSE, down 3.11 percent from its previous close.
For the September quarter, the company posted a 23 percent increase in revenue, reaching Rs 60.9 crore, with a 91 percent surge in net profit to Rs 39.7 crore year-on-year for Q2FY24.
The music recording company released 130 songs, comprising 62 film songs and 68 non-film songs this year, when its YouTube subscriber base reached 89.7 million from 50.9 billion, marking an 86 percent year-on-year rise.
The board also approved an interim dividend of Rs 2 per share for the Q2 of FY24, taking the total interim dividend for H1 FY24 to Rs3.00 per share.
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