Gameskraft Profit Zooms Past Rs 1,000 Crore In FY23

Online rummy and gaming platform Gameskraft Technologies Pvt. has posted a spike in revenue and profit, even as it continues to battle allegations of GST evasion amounting to Rs 21,000 crore.

It posted a revenue of Rs 2,662.5 crore in FY23, up from Rs 2,133.1 crore in FY22, according to its financials sourced from TheKredible. It also reported a profit of Rs 1,061.86 crore, up from Rs 930.5 crore in FY22.

Gameskraft is the publisher of major online games such as Rummy Culture, Playship, Pocket 52, Ludo Culture, and Rummy Time. It has recently discontinued its fantasy gaming platform Gamezy, citing "prevailing industry trends and internal insights" and denying that it was related to the recent amendments made to the GST laws.

As of September, the Supreme Court had stayed the Karnataka High Court's ruling that quashed a Rs 21,000-crore show-cause notice to Gameskraft by the Directorate General of GST Intelligence.

Gameskraft, like several others, had argued that they are skill-based games and lobbied for the tax to be levied only on winnings and not the entire bet value.