‘New GST burden may make biz unsustainable’
₹ 16.4 lakh and a net loss of ₹5.1 lakh that year according to its registrar of companies’ filings with the ministry of corporate affairs, accessed via business intelligence platform Tofler. SportsBaazi competes with brands like Mobile Premier League, My11Circle and Dream11.
The volume of its active user business comes from tier II and III cities. But states like Maharashtra and Delhi dominate the spends.
In FY23, the company spent $1.8 million on marketing. “Marketing for us is used to accelerate growth but because we are growing organically because of our new ‘watch and play’ categories, we are spending less on acquiring new users or retaining old ones," he added.
The online gaming market in India will grow at 15% compound annual growth rate (CAGR) till FY28, compared to the 28% CAGR it saw between FY20-23, according to reports. The real money gaming sub-segment’s revenue share may fall to 75.4% by FY28 due to legal amendments.
This is partly because the GST Council has demanded ₹1.12 trillion tax payments retrospectively from gaming companies. However, as the notices await adjudication, the final figure has not yet been determined under the provisions of the Central GST Act.Milestone Alert!
Livemint tops charts as the fastest growing news website in the world
