Dream11 clocks Rs 180-crore profit in FY20
Dream11, an online fantasy game platform, made a profit of Rs 180 crore in 2020, making it one of the few profitable Indian consumer-tech unicorns. In FY19, it reported a loss of Rs 87 crore.
According to the latest regulatory documents received from business intelligence platform Tofler, Dream11, owned by Sports Technologies aka Dream Sports, had its income climb by over 2.5 times to Rs 2,070.4 crore in FY20 from Rs 775.5 crore in FY19. According to the document, it credited its sales growth to “innovative marketing methods” and “exciting new items,” according to the paper.
Nykaa, an omnichannel beauty, and personal care shop is the only big consumer-focused company to profit in FY21, with revenues close to Rs 62 crore.
In FY20, the company’s expenses increased to Rs 1,867 crore, up from Rs 934 crore the previous year. Dream11 spent 71 percent of its expenditures on advertising and promotions, or Rs 1,328.02 crore, compared to Rs 785 crore the last year. During FY20, it increased its spending on employee benefits by 133.6 percent to Rs 153.21 crore.