WinZO, India’s leading skill-based real-money gaming platform, has announced a significant financial milestone for the fiscal year 2024. The company reported a 70% increase in revenue, reaching ₹1,055.2 crore, up from ₹619.4 crore in FY23. This growth is attributed to a surge in user engagement and strategic global expansion efforts.
Surge in User Engagement and Global Expansion
In FY24, WinZO’s user base expanded to over 175 million registered users, with approximately 30 million new registrations each month. The platform facilitated over 55 billion microtransactions, predominantly through UPI, reflecting the increasing adoption of digital payments in India’s tier-2 and beyond markets. The company’s expansion into Brazil with a $25 million investment further diversified its user base and revenue streams .The Financial ExpressCXOtoday+2The Economic Times+2Business News Today+2The Economic Times+2BusinessLine+2The Financial Express+2
Profitability and Accounting Adjustments
Adjusted profit after tax saw a remarkable 151% increase, reaching ₹315 crore in FY24 compared to ₹125 crore the previous year. However, the adoption of Indian Accounting Standards (IndAS) led to a net loss of ₹684 crore, primarily due to a ₹999 crore expense related to the fair valuation of compulsorily convertible preference shares (CCPS) .YourStory
Strategic Initiatives and Future Outlook
WinZO’s strategic initiatives include partnerships with local banks to offer UPI promotions, enhancing user trust and engagement. The company’s focus on microtransactions, with average deposits as low as ₹1, has made digital gaming accessible to a broader audience. Looking ahead, WinZO plans to continue its global expansion and invest in technology to support its growing user base .The Economic Times+2CXOtoday+2Business News Today+2YourStory+4BusinessLine+4YourStory+4
Despite the accounting adjustments, WinZO’s operational performance indicates a strong growth trajectory, positioning the company as a key player in the global gaming industry.
Last Updated on: Saturday, May 3, 2025 12:57 pm by Anushka sirohi | Published by: Anushka sirohi on Saturday, May 3, 2025 12:57 pm | News Categories: News
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