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MPL post Rs 814 crore revenue & around Rs 300 crore loss in FY23

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  1. The Indian entity of MPL reported Rs 814.2 crore in revenue from operations in FY23, a notable 35.56% increase from Rs 600.6 crore in the previous fiscal year, with Rs 521.78 crore attributed to revenue from India.
  2. The company effectively reduced its losses to $37.04 million in FY23, down from $194.47 million in FY22
  3. MPL, founded in 2018 and headquartered in Singapore, focuses on internet-based gaming and primarily operates games in India. It achieved unicorn status in 2021 after securing a Series E round of $150 million at a $2.3 billion valuation.
  4. Earlier this year, MPL underwent layoffs, releasing around 350 employees, citing new GST regulations as a reason. The Indian government imposed a 28% GST on real-money gaming starting October 1, 2023, potentially raising the company’s tax burden.
  5. MPL’s expansion into African markets marked a significant move in collaboration with Carry1st, a prominent gaming firm in the continent, demonstrating the company’s international growth strategy.
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