Zupee Triumphs: First Profit Despite GST Challenges

Zupee reported its first profit of Rs 146 crore for FY 2024-25, even with a challenging 28% GST levy. The company's revenues reached Rs 1,123 crore, driven by significant user growth. Founder and CEO Dilsher Singh Malhi highlighted Zupee's strategic adaptability and continued advocacy for a balanced tax framework.

Zupee, a real money gaming firm, has announced a remarkable financial breakthrough for fiscal year 2024-25, achieving its first-ever profit of Rs 146 crore. Despite the challenging implementation of a 28 percent GST in the second half of the year, Zupee maintained a solid business performance, according to a top company executive.

With net revenue climbing to Rs 1,123 crore, Zupee Founder and CEO Dilsher Singh Malhi attributed their success to robust business fundamentals. The company also noted an impressive 60 percent surge in its user base, with growing popularity in new regions and demographics.

Addressing the GST impact, Malhi acknowledged structural challenges but emphasized the firm's ability to navigate through them due to operational agility and a product-focused strategy. Looking ahead, Zupee continues to advocate for a tax framework that clearly distinguishes skill-based games from games of chance.

(With inputs from agencies.)