HomeStartupOnline Rummy platform A23 revenue cross Rs 1,050 Cr in FY23, profits...

Online Rummy platform A23 revenue cross Rs 1,050 Cr in FY23, profits surge 2.8x

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  1. A23, an online rummy platform, witnessed a considerable bounce-back in fiscal year ending March 2023, with revenues from operations growing by 45.4% to reach Rs 1,050 crore compared to Rs 722 crore in FY22.
  2. The company claims a user base of over 5 crore players across five games: rummy, fantasy, poker, carrom, and pool.
  3. Employee benefit expenses surged by 46.7% to Rs 98.3 crore in FY23 from Rs 67 crore in FY22. Additionally, A23 booked Rs 780 crore under miscellaneous expenses, likely associated with advertising, promotions, and commission expenses.
  4. Total expenditure rose by 39.2% to Rs 976 crore in FY23 from Rs 701 crore in FY22. Consequently, the company’s profits increased by 2.8 times, reaching Rs 58 crore in FY23 compared to Rs 20.4 crore in FY22.
  5. Cash inflows from operations experienced a substantial growth of 287% to Rs 130 crore in FY23.
  6. The EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) margin improved by 399 basis points (BPS) to 10.27% in FY23 due to the increased scale and enhanced profits.
  7. A23’s unit-level expenditure to earn a rupee decreased to Re 0.93 in FY23 from Rs 0.97 in FY22.
SourceEntrackr

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