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Gameberry, the Bootstrapped Gaming Platform hits Revenue of Rs 314 Cr and Rs 37 Crore Profit

Gameberry, revenue increased by 21.24% in financial year 2023 and achieved Rs. 314 Crore revenue as against Rs. 259 Crore in previous year. Profit has however decline by 60.22% to Rs 37 Crore from Rs 93 Crore in FY22.

Decline in profit is majorly attributable to

1. Recognization of share-based payment expense related to ESOPS of Rs 54 Crore in FY 23 as against NIL expense accounted in previous year.

2. Employee Expense excluding ESOPS expense , grew from Rs. 22.70 Crore to Rs. 49 Crore in FY23 which is spike by 2.16X

2. Increase in Hosting and Facilitation Payment Charges by 42% from Rs. 50 Crore to Rs. 72 Crore

The company operates three games: Ludo Star, Ludo Titan, and Parchisi Star. Predominantly, Gameberry’s revenue is derived from in-app sales, which saw a surge of 29% during the fiscal year, while the remaining income came from advertising, maintaining a flat in FY23.

Company had experience increase in cash burn which can be relatable to the new product developments.


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