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A23 reports Rs 841 Cr revenue and Rs 72 Cr profit in FY24

EntrackrEntrackr · 5m ago
A23 reports Rs 841 Cr revenue and Rs 72 Cr profit in FY24
Medial

Online rummy platform A23 reported flat revenue growth for the fiscal year ending March 2024. However, the company achieved a 24% increase in profits, driven by controlled expenses and an increase in non-operating income during the same period. A23’s net revenue was recorded at Rs 841 crore in FY24 from Rs 839 crore in FY23, its consolidated annual financial statements sourced from the Registrar of Companies (RoC) show. Notably, the firm's gross revenue grew by 31% to Rs 1,378 crore in FY24, up from Rs 1,051 crore in FY23. Of this, Rs 537 crore was paid out to players, resulting in a net revenue of Rs 841 crore for FY24. The platform fee, or commission, charged as a percentage of the buy-in fees from users, remained the sole revenue source for A23 during FY24. Additionally, the platform earned Rs 37 crore, primarily from interest on deposits and current investments, bringing its total revenue to Rs 878 crore in FY24. The company claims to have over 5 crore players on its platform and operates five games - rummy, fantasy, poker, carrom, and pool. A23 has not disclosed its overheads much and booked Rs 515 crore, which is 68% of the overall cost under the miscellaneous head. This might include all the major costs including advertising, servers, and hosting. A23’s employee benefits grew 41% to Rs 138 crore in FY24 from Rs 98 crore in FY23. Its legal, safety and security, printing, traveling, and other overheads pushed the total expenditure to Rs 761 crore in FY24. Despite the flat scale, the controlled expenditure and increase in other income helped A23 to post a 24% increase in its net profits to Rs 72 crore in FY24, compared to Rs 58 crore in FY23. Its ROCE and EBITDA margin improved to 11.5% and 15.26%, respectively while the expense-per-revenue ratio stood at Rs 0.90. At the end of FY24, A23’s total current assets were recorded at Rs 613 crore with cash and bank balances of Rs 534 crore.

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A23-parent Head Digital Works acquires Adda52 for Rs 491 Cr

EntrackrEntrackr · 4m ago
A23-parent Head Digital Works acquires Adda52 for Rs 491 Cr
Medial

A23-parent Head Digital Works acquires Adda52 for Rs 491 Cr Online gaming company Head Digital Works (HDW), the parent company of gaming firm A23, has acquired Deltatech Gaming, the operator of online poker platform Adda52. HDW announced in a press release that the acquisition aims to strengthen its online poker portfolio. The transaction will take place in two phases for a total consideration of Rs 491 crore ($57.5 million). Initially, Head Digital Works will acquire a 51% stake in Deltatech Gaming following the merger. Post-merger, DeltaCorp Limited will retain a 5.7% stake in Head Digital Works. Through this acquisition, HDW aims to leverage Adda52’s expertise and technological capabilities to accelerate its growth in the online gaming market. Launched in 2011, Adda52 offers a poker experience with various game formats, tournaments, and cash games, attracting both casual and professional poker players across India. According to HDW, the acquisition will enhance the gaming experience, drive technological advancements, and cater to evolving user preferences. The company plans to expand its poker business, explore new growth avenues, and build a comprehensive and diversified skill-gaming platform for its customers. A23 claims to have over 75 million registered users across India and operates five games - rummy, fantasy, poker, carrom, and pool. A23’s net revenue stood at Rs 841 crore in FY24, compared to Rs 839 crore in FY23. Despite the flat revenue, controlled expenditures and increased other income helped A23 achieve a 24% rise in net profits to Rs 72 crore in FY24. In November last year, A23 also completed its first-ever employee stock options (ESOP) buyback program worth $3 million.

Delhivery reports Rs 70 Cr profit in Q4 FY25; revenue jumps 6%

EntrackrEntrackr · 2m ago
Delhivery reports Rs 70 Cr profit in Q4 FY25; revenue jumps 6%
Medial

Delhivery reports Rs 70 Cr profit in Q4 FY25; revenue jumps 6% Logistics company Delhivery announced its Q4 FY25 results on Friday, reporting a 6% year-on-year increase in revenue. The Gurugram-based firm also reported a profit of Rs 72 crore during the same period. Delhivery’s revenue from operations grew to Rs 2,191 crore in Q4 FY25, according to its financial statements filed with the National Stock Exchange (NSE). For the full fiscal year (FY25), Delhivery’s operating revenue increased 10% to Rs 8,932 crore in FY25 from Rs 8,141 crore in FY24. Delhivery's primary revenue sources were its logistics services, including warehousing, last-mile logistics, and designing and deploying logistics management systems. The firm also earned Rs 112 crore from non-operating activities, bringing its total revenue to Rs 2,303 crore in Q4 FY25. Meanwhile, for the full fiscal year, total income reached Rs 9,372 crore. For Delhivery, freight handling and servicing costs made up 70% of its total expenditure, rising by 3% to Rs 1,566 crore in Q4 FY25. Employee benefit expenses decreased by 6% to Rs 337 crore. Legal, depreciation, and other overhead costs contributed to a minor decrease in overall expenditure, which reached Rs 2,249 crore during the quarter. For the full financial year ending March 2025, the firm’s total expenses rose to Rs 9,217 crore as against Rs 8,825 crore in FY24. Delhivery's continued growth and controlled expenditure resulted in a profit of Rs 72 crore in Q4 FY25, compared to a loss of Rs 68 crore in Q4 FY24. On a fiscal basis, it turned profitable and reported a net profit of Rs 162 crore in FY25 as compared to a loss of Rs 249 crore in FY24. At the close of today’s trading session, Delhivery’s share price stood at Rs 321 per share, giving the company a market capitalization of Rs 23,957 crore.

Gameskraft achieves Rs 3,500 Cr income in FY24 with Rs 947 Cr PAT

EntrackrEntrackr · 5m ago
Gameskraft achieves Rs 3,500 Cr income in FY24 with Rs 947 Cr PAT
Medial

Gameskraft achieves Rs 3,500 Cr income in FY24 with Rs 947 Cr PAT Gameskraft has consistently reported net profits of around Rs 1,000 crore over the past three fiscal years. Despite encountering various legal challenges, the Bengaluru-based company achieved a 30% year-on-year growth in the fiscal year ending March 2024. Gameskraft’s revenue from operations grew to Rs 3,475 crore in FY24 from Rs 2,673 crore in FY23, its consolidated annual financial statements sourced from the Registrar of Companies show. Gameskraft operates popular gaming apps such as Rummy Culture, Playship, Pocket 52, RummyPrime, Ludo Culture, and Rummy Time. Its revenue (gross gaming revenue) comes from a platform fee or commission charged as a percentage of the buy-in fees users invest in games. This remained its sole revenue source during FY24. The company also made Rs 46 crore from interest on fixed deposits and gain on sale of current investments which tallied its overall revenue to Rs 3,521 crore in FY24 from Rs 2,732 crore in FY23. Similar to other gaming companies, Gameskraft has over a dozen brand ambassadors, including Harbhajan Singh, Mahesh Bhupathi, and Abhinav Bindra, and has run several campaigns on social media and TV. This pushed its advertising costs up by 113% to Rs 1,315 crore in FY24 from Rs 616 crore in FY23. Gameskraft employee benefits grew 23.5% to Rs 463 crore in FY24. This includes Rs 12 crore as ESOP cost which is settled in cash. Its legal, communication, domain, web hosting, and other overheads took the overall cost up by 71.7% to Rs 2232 crore in FY24 from Rs 1300 crore in FY23. The more than two-fold increase in advertising costs outpaced Gameskraft's revenue growth, causing its profits to drop by 10.8% to Rs 947 crore in FY24 from Rs 1,062 crore in FY23. Its ROCE and EBITDA margin stood at 69.4% and 37.46% respectively with an expense-to-earning ratio of Rs 0.64. At the end of FY24, Gameskraft's total current assets were recorded at Rs 1,680 crore with the cash and bank balance of Rs 306 crore. In the real-money gaming sector, MPL reported a 22.2% increase in revenue from operations to Rs 1,068 crore in FY24, while also achieving positive cash flow during the year. Gameberry saw a 46.9% growth in revenue to Rs 461.7 crore, with a 150% surge in profit to Rs 92.8 crore in the same period. Meanwhile, major competitors such as Dream11 and A23 have yet to release their financial results for FY24.

MapMyIndia posts Rs 140 Cr revenue in Q4 FY25, profit grows 29%

EntrackrEntrackr · 2m ago
MapMyIndia posts Rs 140 Cr revenue in Q4 FY25, profit grows 29%
Medial

MapMyIndia posts Rs 140 Cr revenue in Q4 FY25, profit grows 29% CE Info Systems, the parent company of MapMyIndia, has announced its financial results for the fourth quarter of FY25. The company reported a year-on-year revenue growth of over 34% compared to Q4 FY24. MapMyIndia’s revenue from operations increased to Rs 143 crore in Q4 FY25 from Rs 107 crore in Q4 FY24. Meanwhile, for the full fiscal year, revenue increased by 22% to Rs 463 crore in FY25 from Rs 379 crore in FY24, according to its consolidated quarterly report. Income from digital map data, GPS navigation, location-based services, and IoT was the primary source of revenue for MapMyIndia, accounting for 88% of the total collection. This revenue source increased by 51% to Rs 127 crore in Q4 FY25. However, income from the sale of its devices generated Rs 16.5 crore in revenue. The cost of IoT devices, employee benefits, and outsourced technical services were the major cost elements, pushing the total cost of the firm to Rs 90 crore in Q4 FY25, up from Rs 72 crore in Q4 FY24. On a fiscal basis, the total cost increased to Rs 306 crore in FY25. With the increase in scale, MapMyIndia recorded a 29% increase in its profit to Rs 49 crore during Q4 FY25, compared to Rs 38 crore in the fourth quarter of the previous fiscal year. Meanwhile, annual profit increased by 10% to Rs 148 crore in FY25, up from Rs 134 crore in FY24. At the end of the day on 9th May 2025, MapMyIndia closed at Rs 1,845 per share, with a market capitalization of Rs 10,040 crore ($1.17 billion).

Gameberry posts Rs 93 Cr PAT, shares 10% revenue with Moonfrog amid dispute

EntrackrEntrackr · 7m ago
Gameberry posts Rs 93 Cr PAT, shares 10% revenue with Moonfrog amid dispute
Medial

Gameberry, the mobile gaming company behind popular titles like Ludo Star and Parchisi Star, delivered impressive results for FY24. The company’s operating revenue grew by 47% year-on-year, while its profit soared 2.5X to Rs 92.8 crore for the fiscal year ending March 2024. Gameberry’s revenue from operations grew by 46.9% to Rs 461.7 crore in FY24, up from Rs 314.3 crore in FY23, according to its consolidated financial statement filed with the Registrar of Companies (RoC). The company makes money from in-app purchases and advertisements. Revenue from in-app sales spiked 49.4% to Rs 365.4 crore in FY24, contributing 79.1% of total operating revenue. Meanwhile, collection from advertisements grew by 38.2% year-on-year to Rs 96.3 crore. The company also made an additional Rs 23 crore from interest income which pushed its total income to Rs 485 crore in FY24. On the expense side, Gameberry’s total costs rose by 29.6% to Rs 360.5 crore in FY24 from Rs 278.1 crore in FY23. Employee benefit costs, the largest expense category, increased by 9.6% to Rs 112.6 crore. Advertising costs rose significantly by 51% to Rs 67.8 crore, while settlement expense stood at Rs 50.8 crore. Other expenses, which include IT and operational costs, grew by 37.1% to Rs 129.3 crore during the last fiscal year. The settlement expense includes payments tied to an agreement with Moonfrog Labs Private Limited (MLPL) related to a case formerly pending before the City Civil Court, Bengaluru. Under the settlement, Gameberry agreed to a one-time payment of Rs 32.8 crore and a fixed percentage of its monthly net revenues till 2030. The optimization of expenses and growth in high-margin revenue streams enabled Gameberry to improve its profit margins. Gamesberry’s net profit spiked 2.5X to Rs 92.8 crore in FY24 from Rs 37.1 crore in FY23. The firm recorded an EBITDA margin of 26.05% and a ROCE of 30.54% in FY24. On a unit basis, the company spent Rs 0.78 to earn a rupee in the fiscal year. Gameberry’s cash and bank balances stood at Rs 325.7 crore, while its current assets were worth Rs 411 crore as of March 2024. In the real-money gaming sector, MPL recorded a 22.2% rise in revenue from operations, reaching Rs 1,068 crore ($127.9 million) in FY24, while also turning cash flow positive during the year. Meanwhile, major competitors like Dream11, Gameskraft, and A23 are yet to submit their financial results for FY24.

Ixigo posts Rs 284 Cr revenue Q4 FY25; profit jumps 2.4X

EntrackrEntrackr · 2m ago
Ixigo posts Rs 284 Cr revenue Q4 FY25; profit jumps 2.4X
Medial

Ixigo released its financial results for the fourth quarter of the ongoing fiscal year (Q4 FY25) on Wednesday. The company reported a 72% growth in scale, while its year-on-year (YoY) profits increased by 2.4X during the same period. Ixigo’s revenue from operations surged 72% to Rs 284 crore in Q4 FY25 in contrast to Rs 165 crore in Q4 FY24, as per the firm’s consolidated financial results sourced from the National Stock Exchange (NSE). For the full fiscal year (FY25), Ixigo’s operating revenue increased 39% to Rs 914 crore in FY25 from Rs 656 crore in FY24. The Gurugram-based company generated the largest share (44%) of its operating revenue from train ticketing, which rose to Rs 124 crore in Q4 FY25 from Rs 94 crore in Q4 FY24. Flight and bus booking services contributed 30% and 23% to the company’s revenue, respectively. According to the company, its gross transaction value (GTV) grew 65% year-on-year to Rs 4,418 crore in the fourth quarter of FY25, as compared to Rs 2,685 crore in the same quarter of the previous year. Besides operating revenue, the firm also earned Rs 6 crore via interest and gains from financial assets during the quarter which took its total topline to Rs 290 crore in the quarter ending March 2025. Ixigo has not provided a detailed breakdown of expenses in its quarterly financial statements. However, employee benefits expenses rose by 31% YoY to Rs 46 crore. Overall, the company's total costs grew 73% to Rs 263 crore in Q4 FY25 compared to Rs 152 crore in Q4 FY24. For the full financial year ending March 2025, the firm’s total expenses rose to Rs 846 crore as against Rs 628 crore in FY24. In the end, Ixigo's net profits surged 2.4X to Rs 17 crore in Q4 FY25 from Rs 7 crore in Q4 FY24. On a fiscal basis, its net profit decreased 18% to Rs 60 crore in FY25 from Rs 73 crore in FY24. Ixigo is currently trading at Rs 167 at the end of today’s session with a total market capitalization of Rs 6,500 crore (approximately $760 million).

Awfis posts Rs 257 Cr revenue in Q1 FY25, improves profits

EntrackrEntrackr · 11m ago
Awfis posts Rs 257 Cr revenue in Q1 FY25, improves profits
Medial

Co-working solutions provider Awfis filed its first quarterly results after going IPO. The Delhi based company witnessed 10.9% revenue growth with the profits spiking 102.9% during the same period. Awfis’ revenue increased to Rs 258 crore in Q1 FY25 from Rs 232 crore in Q4 FY24, as per its unaudited consolidated financial statements filed with the National Stock Exchange (NSE). Income from renting of co-working space and allied services contributed 72% of the firm’s total operating revenue while construction and fit-out projects contributed 26% . On a sequential basis, its operating revenue increased by 37.31% from Rs 187.7 crore in Q1 FY24. Awfis’ total expense increased by 10.57% to Rs 265.08 crore in Q1 FY25 from Rs 239.79 crore in Q4 FY24. Subcontracting cost and purchase of traded goods accounted for 24% of the total expense. Employee benefit, depreciation and amortization and finance costs were some other major expenses for the 10-year-old company. The consistent growth in scale helped Awfis to double its profit which stood at Rs 2.78 crore in Q1 FY25 as compared to Rs 1.37 crore in Q4 FY24. For context, Awfis posted a loss of Rs 8.3 crore in Q1 FY24. Awfis is currently trading at Rs 669.7 (as at the end of August 13) with the market capitalization of Rs 4648 crore (approximately $560 million).

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