A23 touches Rs 1,050 Cr revenue in FY23, profits surge 2.8X


After witnessing a dip in collections in FY22, online rummy platform A23 has bounced back with a decent growth in scale which crossed Rs 1,000 crore in the fiscal year ending March 2023.

A23’s revenue from operations rose over 45.4% to Rs 1,050 crore in FY23 as compared to Rs 722 crore in FY22, its consolidated financial statement with the Registrar of Companies shows.

Financial FY23

FY22 FY23










Amount in ₹ Cr

Commission earned on the pool prize on successful completion of the game was the only source of collection for the firm during the last fiscal year. Other than this, A23 earned Rs 21.4 crore non-operating income which took the overall revenue to Rs 1,072 crore in FY23.

The company claims to have over 5 crore players on its platform and operates five games – rummy, fantasy, poker, carrom and pool. 

A23 spent Rs 98.3 crore on employee benefit expenses which spiked 46.7% in FY23 from Rs 67 crore in FY22. The firm booked Rs 780 crore under miscellaneous expenses without disclosing further details. These expenses are likely costs related to advertising, promotions and commission expenses during the fiscal year (FY23).

Expense Breakdown

Total ₹701 Cr
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Total ₹ 976 Cr
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  • Employee benefits
  • Logistics
  • Legal & professional
  • Others

For further expense details visit at TheKredible.

Overall, the company’s total expenditure went up 39.2% to Rs 976 crore in the previous fiscal year from Rs 701 crore in FY22. Following the growth in topline, the firm’s profits jumped 2.8X to Rs 58 crore in FY23 against Rs 20.4 crore in FY22.

A23’s historical financial data can be found here.

Additionally, the company also managed to grow its cash inflows from operations by 287% to Rs 130 crore during the last fiscal.

The EBITDA margin of the company improved by 399 BPS to 10.27% which can be attributed to rising scale along with growth in profits.


FY22 FY23
Expense/₹ of Op Revenue ₹0.97 ₹0.93
ROCE 4.76% 10.46%
EBITDA Margin 6.28% 10.27%

On a unit level, A23 spent Re 0.93 to earn a rupee during FY23.

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