The Indian arm of the gaming unicorn MPL has significantly reduced its losses by over 80% for the fiscal year ending March 31, 2023.
The startup saw its net loss decrease from Rs 449.4 crore in FY22 to Rs 87.2 crore in FY23, pertaining only to MPL's India operations and not its global ventures.
The company's operating revenue grew 36% to Rs 814 Cr in FY23 from Rs 601 crore in FY22. Including other income, total income rose 36.4% to Rs 832.6 crore from Rs 610.1 crore the previous year.
MPL reduced its expenses by 13% to Rs 919.8 crore in FY23 from Rs 1,059.6 crore in FY22, with advertising costs dropping 42% to Rs 305 crore and employee benefits decreasing 14% to Rs 170.4 crore.
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