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M-League's FY24 Revenue Surges 22% To $130 Mn; Achieves Break-even With An Adjusted EBITDA Of $0.2mn
Both Gross Gaming Revenues: M-League, India’s leading gaming conglomerate, has announced its financial results for FY24, reporting a 22% rise in total income to $130 million. The company has also achieved break-even with an Adjusted EBITDA of $0.2 million. This growth is despite M-League absorbing headwinds associated with higher GST rates in its India operations. M-League’s portfolio includes Mobile Premier League (MPL) and GameDuell, the fastest-growing card and board game studio in Europe.
M-League’s FY24 Adjusted EBITDA of $0.2 million is a 100 percent improvement over FY23, which had a negative Adjusted EBITDA of $44.7 million. India revenues went up by more than 35% to US $88 million approx for FY 2023-24. Both Gross Gaming Revenues (GGR) and the number of cash-paying monthly active users for MPL have increased by nearly 60% during the same period.
M-League credited its success to cost-cutting initiatives and enhanced operational efficiency at MPL. “We focused on innovation, streamlined processes to reduce costs, and accelerated time to market for new games,” the company stated.
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