Online gaming platform Dangal Games claims to have closed FY22 with net revenue of Rs 20 crore, Varun Mahna, founder and CEO, Dangal Games, told BrandWagon Online, adding that while the company is profitable in terms of unit economics, it is still in losses. He, however, declined to comment on the loss for the last fiscal. “We are on a path to profitability and should be able to turn profitable in the next three years. We aim to clock a net revenue of Rs 70 crore in FY23,” he added.
While Poker remains the flagship game of the company, as this was the first game it rolled, as part of its expansion strategy, the company has added new genres of games including Fantasy, Rummy, Casual, among others. “In one year, we’ve been able to diversify our revenue streams. Poker had once accounted for 100% of the revenue. Currently, it accounts for 60% of the revenue while the remaining 35% comes from other genres of games,” Mahna explained. It currently claims to have a total userbase of 2.2 million.
As per the firm, its marketing is split into two parts – branding and customer acquisition. The company claims that currently, its spend on branding is limited, but it plans to ramp up. “Acquisition and retention are the most important levers for us as an organisation. We are focused on continuously driving these two levers to drive growth in the next few years,” he added.
As per regulatory filing accessed by business intelligence platform Tofler, XETA Networks Pvt Ltd, the parent company of Dangal Games reported (standalone) 39.6% decline in revenue from sales or supply of services to Rs 11.7 crore in FY21 from Rs 19.4 crore, in the previous year. While its net loss widened four times to Rs 82.5 lakh in FY21 from 21.57 lakh in FY20.
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