A23 Games’ revenue reaches Rs 820 crore in FY21 while dropping the profit to 59%
According to The Online Rummy Federation, the top four businesses in the Indian ecosystem, which include Rummy Circle, Junglee Rummy, Adda 52, and A23 games, have a combined turnover of Rs 4,000 crore (TORF). While there is no more evidence to support the TORF’s assertion, the amount appears plausible while considering the earnings of one of the four businesses listed above: A23 Games.
According to its annual financial records submitted with the Registrar of Companies, the Delhi-based startup’s income from operations increased by 36.6% to Rs 819.3 crore in FY21 from Rs 599.8 crore in FY20 (RoC). Non-operating income nearly quadrupled to Rs 15.2 crore from Rs 7.12 crore in FY20 during the same period.
Wittygames India, WCFN Solutions, Ace Interactive Solutions, and Crictec Media are among A23’s four subsidiaries. It claims to have over 40 million users who compete in 1,000 daily events and earn over Rs 10 lakh per day. The expense sheet reflects that the corporation has put 87.5 percent of its spending in the “Miscellaneous costs” category.
The payment of employee benefits is the gaming company’s second-largest expense, accounting for 8.8% of its yearly expenditures. From Rs 60.3 crore in FY20 to Rs 63.4 crore in FY21, these costs increased by only 5.2%. During the March FY21 end, the company spent Rs 10.8 crore on legal and professional payments.
With its headquarters in Dubai, VerSe Innovation, the parent company of news and content aggregator DailyHunt and short video app Josh, is extending its activities in the Middle East. This is the company’s first venture into the international market.
Follow Startup Story
Related Posts
