Dream Sports, the parent company of Dream11, revealed robust financial performance in FY23, experiencing a significant 66.21% growth in revenue, reaching Rs 6,384 crore compared to Rs 3,841 crore in FY22. The company’s profit also showed an impressive increase of 32.4%, rising to Rs 188 crore in FY23 from Rs 142 crore in FY22, as per the consolidated financial statements obtained from the Registrar of Companies (RoC).
However, the commendable growth was accompanied by a 55.21% surge in overall expenditure, reaching Rs 5,839 crore in FY23, up from Rs 3,762 crore in FY22. Notably, advertisement and promotional expenses constituted 51% of the total expenditure, registering a 37.3% increase to Rs 2,964 crore in FY23 from Rs 2,158 crore in FY22.
Dream Sports has been actively engaged in brand promotion, evident through its sponsorship of the Indian Premier League (IPL) for the past three editions and collaborations with star cricketers as brand ambassadors.
Reflecting on the financials, Dream Sports demonstrated an improved Return on Capital Employed (ROCE) and EBITDA margin, reaching 29.4% and 12.8%, respectively. The company also witnessed a more than twofold increase in employee benefit costs, which soared to Rs 1,154 crore in FY23.
In the fiscal year, Dream Sports maintained total current assets worth Rs 1,609 crore, including a substantial Rs 779 crore in cash and bank balances.
Regarding the competitive landscape, Dream11 stands out as the highest revenue-generating fantasy sports company in India, surpassing competitors like Gameskraft.
