Gameberry Labs Revenue Growth in FY26
Following a revenue increase of 28% in FY25, Gameberry Labs, known for its popular mobile board games Ludo Star and Parchisi Star, sustained its growth trajectory in FY26, achieving a 20% rise in operating revenue to surpass Rs 700 crore. The company also reported over a 17% increase in net profit during this fiscal year. Gameberry Labs’ operating revenue escalated by 20.3% year-on-year to Rs 711 crore in FY26, up from Rs 591 crore in FY25, according to its consolidated financial records obtained from the Registrar of Companies (RoC).
Overview of Gameberry Labs
Founded in 2017, Gameberry Labs is prominent for its mobile board games, including Ludo Star, Ludo Titan, Parchisi Star, and Backgammon Friends. The company has concentrated on free-to-play models, generating revenue through in-app purchases and advertising.
Revenue Breakdown
Gameberry Labs’ primary income stream comes from in-app purchases, which accounted for Rs 603 crore, or nearly 85% of its operating income, during the fiscal year. This segment grew by 20.8% from Rs 499 crore in FY25. Advertising revenue also saw a rise, increasing by 17.4% to Rs 108 crore, up from Rs 92 crore in the previous fiscal period.
Importantly, over 99% of the revenue originated from international markets, bringing in Rs 706 crore, while India contributed only a small portion of the total earnings. Including Rs 39 crore in additional income from bank deposit interest and gains from asset valuation, Gameberry Labs’ total income surged to Rs 750 crore in FY26 from Rs 622.3 crore in FY25.
Expenditure Insights
On the expense side, total spending for the company rose by 23.2% to Rs 578 crore in FY26, up from Rs 469 crore in the previous fiscal year. Employee-related expenses remained the largest cost area, increasing by over 31% year-on-year to Rs 177.66 crore, up from Rs 135.5 crore in FY25. This amount included Rs 7.86 crore attributed to ESOP expenses.
Charges for platform hosting and payment processing escalated by 62.6% to Rs 175 crore, comprising over 30% of total costs, while advertising costs climbed 20.4% to Rs 116.4 crore for the year. Gameberry Labs also made a payment of Rs 73.7 crore in FY26 as part of a settlement with Moonfrog Labs Private Limited regarding a case previously pending in Bengaluru’s City Civil Court. This agreement included a one-time payment of Rs 32.8 crore in FY20 and a commitment to pay a fixed percentage of monthly net revenues until 2030. Additional expenses, encompassing legal and consultancy fees, technical costs, royalties, and miscellaneous charges, totalled Rs 35 crore, contributing to the overall expenditure of Rs 578 crore for FY26, marking a 23% year-on-year rise.
Profit and Financial Performance
Despite the uptick in costs, Gameberry Labs’ profit after tax increased to Rs 129 crore in FY26 from Rs 110 crore in FY25, representing around a 17% rise. The company’s EBITDA saw an 8.8% improvement to Rs 140.48 crore compared to Rs 129.16 crore from the previous fiscal year. Nonetheless, both the EBITDA margin and ROCE saw declines, ending at 19.8% and 21.1% respectively in FY26. On an operational basis, the expenditure was around Rs 0.81 to earn a rupee of operating revenue, compared with Rs 0.79 in the earlier fiscal year.
Asset Management
As of March 2026, Gameberry Labs reported current assets valued at Rs 487 crore, a decrease from Rs 564 crore recorded a year prior. Cash and bank reserves dropped significantly to Rs 12 crore, down from Rs 119 crore in FY25.
Overall, Gameberry Labs emerges as a profitable entity on a growth path, albeit facing slower expansion, rising platform costs, and a legacy liability scaling with revenue until 2030. The decline in ROCE to 21.1% is a pivotal figure to monitor, particularly alongside the sharp decrease in cash reserves.