Tips Films Limited has informed the Exchange regarding 'Resignation of SPML & Associates as Revenue Auditor'.
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Awaiting price reaction for this filing.
Tips Films' board approved unaudited Q1 FY26 (quarter ended June 30, 2025) standalone results, reporting revenue of Rs 1,238.46 lacs and a net profit of Rs 474.41 lacs (EPS Rs 10.97), compared to a loss of Rs 3,270.92 lacs in Q1 FY25. The company itself cautions that quarterly numbers are not comparable because film revenues are lumpy and do not accrue evenly through the year. Revenue auditor SPML & Associates resigned effective August 14, 2025, citing preoccupation in other assignments, and Mathur & Co. (a 42-year-old CA firm) was appointed as the new internal auditor for revenue audit from Q2 FY26 onwards. Statutory auditor Maheshwari & Co. issued an unqualified limited review report on the results.
The headline profit swing from a loss to a profit looks dramatic but should be read with caution given the lumpy nature of the film business. The mid-year change of the revenue auditor is a routine regulatory disclosure, but shareholders may want to track whether the new auditor flags any revenue recognition issues in upcoming quarters.