Dream11’s FY22 revenue grows 50%, but profit more than halves on higher costs! know the secrets!

dream 11
dream 11

Fantasy sports platform Dream11 has stated a 50% increase in operational revenue for the fiscal year ended March 31, 2022, but its revenue fell to less than half as expenses rose 70%.

Net turnover at the Mumbai-based online platform fell to Rs 142.86 crore from Rs 327.59 crore in fiscal 2021, Dream11’s supervisory filings sourced from Tofler showed. It posted operational revenue of Rs 3,840.75 crore and total outlays of Rs 3,762.4 crore for fiscal 2022.

In the Tiger Global-backed company’s price profile, a major chunk was on account of advertising and P.R. expenses, which rose almost 73% from the year before to Rs 2,158.29 crore in FY22. Dream11 has about of India’s top cricketers as its brand ambassadors.

As the company’s gauge expanded, it reported an 80% growth in its employee benefit expenses to Rs 496.52 crore through FY22, against Rs 276.49 crore in the earlier year.

In its supervisory filings, Dream11 reported miscellaneous expenses of Rs 1,050.38 crore but did not explain the nature of these incidentals. Compared with FY21, varied expenses grew 62%.

As an effect of the fall in profit, the company’s tax outgo fell to Rs 159.77 crore from Rs 170.49 crore in economic 2021.

During fiscal 2022, Dream11 elevated $840 million at a valuation of $8 billion from new and existing investors with Falcon Edge, DST Global, D1 Capital, Tiger Global, and Redbird Capital. The funding was publicized in November 2021.

The online fantasy athletic platform primarily earns revenue from the fee received from users who participate in real-money, fantasy athletic contests available on the platform.

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