Dream11 reports impressive 66% revenue growth and 32% profit growth in FY23

News update

Dream Sports, parent company Dream 11revealed robust financial results in FY23, registering a significant 66.21% growth in revenue to Rs 6,384 crore compared to Rs 3,841 crore in FY22. The company’s profit also showed an impressive growth of 32.4% and grew to Rs 188 crore in FY23 from Rs 142 crore in FY22, according to consolidated financial statements obtained from the Registrar of Companies (RoC).

However, the commendable growth was accompanied by a 55.21% increase in total expenditure, which stood at Rs 5,839 crore in FY23, from Rs 3,762 crore in FY22. Advertising and promotion expenditure accounted for 51% of total expenditure, registering an increase of 37, 3% to Rs 2,964 crore in FY23 from Rs 2,158 crore in FY22.

Dream Sports is actively involved in brand promotion, which is evident through sponsorship Indian Premier League (IPL) for the last three editions and working with star cricketers as brand ambassadors.

In terms of financials, Dream Sports has shown better return on capital (ROCE) and EBITDA margin, which reached 29.4% and 12.8%, respectively. The company also saw a more than two-fold increase in employee benefit costs, which soared to Rs 1,154 crore in FY23.

In the fiscal year, Dream Sports maintained total current assets of Rs 1,609 crore, including a substantial Rs 779 crore in cash and bank balances.

When it comes to the competitive landscape, Dream11 stands out as the highest revenue generating fantasy sports company in India, surpassing competitors such as Gameskraft.

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