Online gaming startup Winzo reports 70% jump in FY24 revenue amid regulatory headwinds

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Homegrown online gaming startup Winzo reported a 70% rise in operating revenue to Rs 1,055.2 crore for the financial year ended March 2024, despite a challenging regulatory environment for the online gaming sector in India.The company’s adjusted net profit grew 2.5 times to Rs 315 crore, up from Rs 125 crore the previous year.

Winzo noted that these financials reflect only six months of the impact from the government’s revised GST regime, which came into effect on October 1, 2023.

“While the company acknowledged the impact of the revised 28% GST on…



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Online gaming startup Winzo reports 70% jump in FY24 revenue amid regulatory headwinds


Homegrown online gaming startup Winzo reported a 70% rise in operating revenue to Rs 1,055.2 crore for the financial year ended March 2024, despite a challenging regulatory environment for the online gaming sector in India.The company’s adjusted net profit grew 2.5 times to Rs 315 crore, up from Rs 125 crore the previous year.

Winzo noted that these financials reflect only six months of the impact from the government’s revised GST regime, which came into effect on October 1, 2023.

“While the company acknowledged the impact of the revised 28% GST on…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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