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Updated January 21st, 2024 at 19:18 IST

Dream11 shines with remarkable 66% revenue surge and 32% profit boost in FY23

Maintaining robust liquidity, Dream Sports reported total current assets worth Rs 1,609 crore, including a substantial Rs 779 crore in cash and bank balances.

Business Desk
Dream11 FY23 Performance
Dream11 FY23 Performance | Image:Dream11
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Dream11 revenue surge: Dream Sports, the umbrella organisation overseeing Dream11, has unveiled an impressive financial report for the fiscal year 2023, showcasing a substantial 66.21 per cent surge in revenue. The figures soared to Rs 6,384 crore, a remarkable leap from the Rs 3,841 crore reported in FY22. According to consolidated financial statements from the Registrar of Companies (RoC), the company's profits also demonstrated a noteworthy increase of 32.4 per cent, reaching Rs 188 crore in FY23, compared to Rs 142 crore in the preceding fiscal year.

However, this commendable growth was accompanied by a 55.21 per cent upswing in overall expenditure, escalating to Rs 5,839 crore in FY23 from Rs 3,762 crore in FY22. Notably, a significant portion of this expenditure, 51 per cent, was attributed to advertisement and promotional expenses, witnessing a 37.3 per cent increase to Rs 2,964 crore in FY23 from Rs 2,158 crore in FY22.

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Dream Sports has actively pursued brand promotion, evident through strategic sponsorships of high-profile events like the Indian Premier League (IPL) for the past three editions and collaborations with star cricketers serving as brand ambassadors.

A closer look at the financials reveals that Dream Sports has improved its Return on Capital Employed (ROCE) and EBITDA margin, reaching 29.4 per cent and 12.8 per cent, respectively. However, the fiscal year also witnessed a more than twofold increase in employee benefit costs, soaring to Rs 1,154 crore.

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Maintaining robust liquidity, Dream Sports reported total current assets worth Rs 1,609 crore, including a substantial Rs 779 crore in cash and bank balances.

In terms of market dominance, Dream11 continues to outshine its competitors, emerging as India's highest revenue-generating fantasy sports company, surpassing contenders such as Gameskraft.

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Published January 21st, 2024 at 19:18 IST

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