Gameberry Labs is a mobile gaming startup that provides an online gaming platform. The platform offering mobile games announced an operational revenue of Rs 461.7 crore in FY24. The startup provides an online gaming experience to its users. These in-app purchase and advertisement services are the company’s primary source of revenue. The startup uses advanced technologies to offer a seamless gaming experience.
The firm also earns its revenue through interest on income bringing the total income to Rs 485 crore. This income contributed Rs 23 crore to the total revenue for this fiscal year. The data intelligence platform, tracxn mentioned the annual revenue of the startup to be around Rs 329 crore. The advertisement income also increased by 38.2 percent and crossed Rs 96.3 crore. The in-app sales increased by 49.4 percent to Rs 365.4 crore in this financial year.
The Bengaluru-based startup aims to improve its online platform and performance capability. The settlement expenses were around Rs 50.8 crore while the advertisement cost increased by 51 percent to Rs 67.8 crore in FY24. The operational and IT expenses also saw a 37.1 percent growth and crossed Rs 129.3 crore in the same duration. The company posted a 150.1 percent increase in its net profit to Rs 92.8 core in FY24.
The company aims to improve its performance capability and offer a seamless gaming experience. The firm managed to remain profitable while maintaining its losses. Gameberry Labs saw an increase in net profit for this financial year through cost-cutting measures. The mobile game-developing firm also saw an increased interest from investors.
The startup’s total expenditure increased by 29.6 percent and crossed Rs 360.5 crore in this financial year. Employee benefits accounted for 50 percent of the total expenses and increased by 9.6 percent to Rs 112.6 crore in FY24. The EBITDA margin stood at 26.05 percent in FY24 while the ROCE was around 30.54 percent in the same duration. This company agrees to a one-time payment worth Rs 32.8 crore with a fixed percentage of monthly net revenue till 2030. Gameberry Labs faces competition from other mobile game developers such as Ludi King, Playdek, and Marmalade Game Studio.
Conclusion :
The mobile games offering gaming startup, Gameberry Labs announced a 46.9 percent YoY increase in its revenue from operations to Rs 461.7 crore in FY24. This company develops mobile games for both iOS and Android devices. The sale of in-app items and advertisements is the firm’s primary source of revenue along with interest income.
The company’s net profit increased by 150 percent and crossed Rs 92.8 crore in FY24. The operational cost and IT expenses stood at Rs 129.3 crore in the same duration. Employee benefits were the firm’s largest expense for this financial year and stood at Rs 112.6 crore. The startup minimized its losses and managed profitability but failed to control its total expenditure. The total expenses increased by 29.6 percent to Rs 360.5 crore in FY24.
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