E-sports platform JetSynthesys reports Rs 108 Cr EBITDA loss on Rs 208 Cr revenue in FY25

E-sports and gaming platform JetSynthesys turned profitable in FY25 following the sale of its current investment worth Rs 165 crore. However, the Pune-based firm continued to incur operational losses in the same period.

JetSynthesys reported a 10% year-on-year growth in operating revenue to Rs 207.6 crore in FY25 from Rs 188.9 crore in FY24, according to its consolidated financial statement sourced from the Registrar of Companies.

JetSynthesys derives its revenue from a diverse range of services spanning gaming, esports, digital content, interest-based communities, and OTT platforms for video and music. However, the company has not disclosed a segment-wise revenue breakdown.

Notably, the company recorded Rs 175.2 crore in other income, which included a gain of Rs 164.8 crore from the sale of current investments. This sale is likely linked to JetSynthesys’ divestment of its stake in Nautilus Mobile to global gaming major KRAFTON. However, the company has not provided any specific details regarding the transaction.

On the expense side, employee benefits were the largest cost center for the firm, forming 31% of its total cost, amounting to Rs 102.4 crore, which declined 13% in FY25. Content licensing was another major expense for the company, which stood at Rs 75 crore. 

Event Management expenses, along with subcontracting and consultancy costs, grew by 28% and 31%, respectively, to Rs 38.3 crore and Rs 22.8 crore, while the company controlled its burn on advertisement by 33% in FY25. Overall expenses for JetSynthesys declined marginally to Rs 329.5 crore in FY25 from Rs 345.7 crore in FY24

The 10% rise in revenue, coupled with controlled expenses and a one-time gain, helped JetSynthesys to turn profitable in FY25, reporting a profit of Rs 14.4 crore compared to a loss of Rs 97.5 crore in FY24.

However, the company continued to post an operational loss of Rs 107.8 crore in FY25. The EBITDA margin and ROCE improved to -51.94% and -37.8%, respectively. On a unit basis, the firm spent Rs 1.59 to earn a rupee of operating revenue. As of March 2025, the company’s current assets stood at Rs 361.3 crore, including cash and bank balances of Rs 11.5 crore.

The Sachin Tendulkar-backed company has raised over $90 million to date across multiple funding rounds, according to startup data intelligence platform TheKredible. Its investors include Adar Poonawalla’s Serum Institute of India Pvt. Ltd and Pratithi Investment Trust.