Let’s delve into the financial landscape of Gameberry at the conclusion of FY23. As the fiscal year draws to a close, it’s natural for the public to search for information on the company’s revenue and profit. This article will provide an overview of Gameberry’s financial performance during FY23, including details about its revenue and profits, which are currently a hot topic on the internet.
Expansion and Revenue Growth at Gameberry
Gameberry, an independent game publishing firm, saw a considerable expansion in the previous two fiscal years (FY22 and FY23). Despite the company’s growth, revenue collections increased modestly by just 13%. Interestingly, the company’s profit in FY21, despite a fourfold increase in scale, fell by 65%, a decline attributed to a significant rise in employee benefits and advertising expenses. Gameberry reportedly boasts 22 million monthly active users (MAUs) and between 60,000 to 70,000 monthly transactional users (MTUs). In FY23, the company’s revenue hit Rs 314 crore, while it reported a profit of Rs 65 crore. Comparatively, in FY22, Gameberry earned a revenue of Rs 259 crore and a profit of Rs 93 crore.
Gameberry’s revenue from operations saw a 21.2% rise from Rs 259 crore in FY22 to Rs 314 crore in FY23, according to the consolidated financial statement filed with the Registrar of Companies. The company hosts three games: Parchisi Star, Ludo Star, and Ludo Titan. The lion’s share of Gameberry’s revenue is derived from in-app purchases, which saw a 29% increase over the fiscal year. FY23 witnessed a flat growth in advertising revenue. The Bengaluru-based firm also accrued gains on non-operating financial assets (interest) amounting to Rs 14.8 crore. Notably, a staggering 99.8% of Gameberry’s operating income was generated from outside of India.
As per TheKredible, Gameberry’s costs for employee benefits witnessed a significant spike, increasing by 4.5X over the course of the fiscal year, from Rs 22.7 crore in FY22 to Rs 102.7 crore. This sharp hike in employee expenses in FY23 can be attributed to the absence of an employee share-based payment of Rs 53.7 crore in FY22. The company’s expenditures related to platform hosting and payment facilitation also rose by 42% to Rs 71.5 crore during the fiscal year. Additionally, there was an increase in advertising and promotion expenses. Overall, the company’s total expenditure saw a steep rise, moving from Rs 142 crore in FY22 to Rs 278 crore in FY23, marking a 95.8% increase.
