Dream11 revenue grows 53% with Rs 327 Cr profit in FY21

Dream11 has been leading the Indian fantasy sports market in terms of business and has managed to grow its profit by over 3X. The company’s revenue from operations grew by 53% to Rs 2,554.4 crore during the fiscal ended in March 2021 as compared to Rs 1,670.2 crore earned in FY20.

During FY21, Dream11 earned 99.5% of its revenues from gaming which amounted to Rs 2,451.2 crore. It also generated Rs 8.24 crore from subscriptions and Rs 154.03 crore from its financial assets during FY21.

The Tiger Global-backed unicorn generated its revenues primarily by charging platform fees from its users participating in fantasy sports contests which it recognises as Gross Gaming Revenue (excluding GST).

Dream11 has tried to diversify with other operating segments including bespoke sports travel, video game development, merchandising and content creation. The company sold sports jerseys and related merchandise worth Rs 1.2 crore whereas another Rs 1.2 crore came from its travel vertical DreamSet Go.

Dream11 increased its employee base significantly due to the launch of other operating segments including travel, game development, merchandising and growth in the fantasy gaming operations, and its employee benefits payments grew by 81% to Rs 277.4 crore in FY21 from Rs 153.21 crore paid out in FY20.

These payments made up 13% of Dream11’s annual expenses and also included share-based payments of Rs 20.32 crore. Further, Dream11’s expenditure on information technology infrastructure and product development grew in line with the operational scale, increasing by 56% to Rs 359 crore in FY21 from Rs 230.5 crore in FY20.

The company claims to have over twelve crore users on its platform, reaching 5 million daily active users by mid FY21 even when the application is not available on the Google Play store.