India, April 22 -- Real-money gaming platform Zupee turned profitable in FY24, marking its first full year of profitability since inception in 2018.

The startup claimed that it posted a profit after tax (PAT) of INR 146 Cr in FY24 as against a loss of INR 36 Cr in the previous fiscal year, as revenue zoomed. Its top line surged 36.5% to INR 1,123 Cr from INR 823 Cr in FY23.

It is pertinent to mention that the GST Council imposed a 28% GST on the full face value of bets, effective from October 1, 2023. As such, the FY24 financials only reflect the impact of this change for six months. The full-year impact of the new GST framework will be seen in FY25 numbers.

"While the 28% GST implementation in the latter half of the year posed structu...