iWorld
Ekalavya Bhattacharya appointed Offbeet Media Group’s chief digital officer
Mumbai: After successfully launching and running the OTT platform of Balaji – ALT Balaji, Ekalavya Bhattacharya has joined the new age media and content company, Offbeet Media group to set up and lead the esports and web3 verticals for the group. With this move, FusedBulb, a creative-tech company started by Bhattacharya that offers web3 and blockchain strategy, would also be merging into Offbeet Media.
He joins Offbeet Media after a stint at Alt Balaji as chief strategy officer & creative director. Prior to that, as MTV India digital head, he was also instrumental in charting the map for the digital and social growth for MTV India with many award winning campaigns and properties to his credit.
“The gaming industry today, globally, is bigger than movie + sports combined. It’s growing rapidly across mobile, PC and console markets in India as well. Within gaming, esports is capturing the imagination of everyone in the media industry and is the most attractive route to connect with GenZ and millennials today. With streaming and game-casting audiences growing month-on-month, this is a super exciting space to be in! We want to set up India’s most definitive Esports Academy and be the leaders in the event space for competitive gaming!” he said.
He will also be setting up the web3 vertical for the group. “Web3 is the natural progression for the evolution of the web. The opportunities in the Metaverse, decentralised eco-systems, NFTs and blockchain tech is endless. Right from consumer engagement, immersive experiences, efficiency in supply chains, Web3 is the way to go and we are excited to be the go-to guys for brands in this space,” he said.
Offbeet Media Group founder & CEO Jaideep Singh said “At Offbeet we have been continuously evolving and expanding, entering into new streams of business lines in sync with our vision of being a New Age media and content company and we are super excited to have Bhattacharya joining us. He will bolster our business offering and overall capabilities in the digital footprint across all our rapidly growing business lines.”
Gaming
Bluestone FY26 revenue rises to Rs 2,436 crore, turns profitable
Q4 profit at Rs 31 crore, full-year profit at Rs 13 crore vs loss last year.
MUMBAI: From sparkle to numbers, Bluestone seems to be polishing more than just jewellery this year. Bluestone Jewellery and Lifestyle Limited reported a sharp turnaround in FY26, with revenue from operations rising to Rs 2,436 crore (Rs 24,364 million), up from Rs 1,770 crore (Rs 17,700 million) in FY25. The company posted a full-year profit of Rs 13 crore (Rs 131.79 million), a significant recovery from a loss of Rs 222 crore (Rs 2,218 million) a year ago.
Total income for the year stood at Rs 2,486 crore (Rs 24,860 million), compared to Rs 1,830 crore (Rs 18,300 million) in the previous year, reflecting both topline growth and improved operational momentum.
The March quarter, however, told a more nuanced story. Revenue from operations came in at Rs 681 crore (Rs 6,814 million), down from Rs 748 crore (Rs 7,486 million) in the year-ago period, though higher than Rs 461 crore (Rs 4,613 million) in the preceding December quarter. Net profit for Q4 stood at Rs 31 crore (Rs 311.81 million), compared to Rs 68 crore (Rs 688 million) a year earlier, but a clear reversal from a loss of Rs 51 crore (Rs 512 million) in Q3.
Margins were shaped by higher input costs, with raw material consumption rising to Rs 2,204 crore (Rs 22,043 million) for the full year, alongside employee benefit expenses of Rs 282 crore (Rs 2,824 million) and finance costs of Rs 210 crore (Rs 2,104 million). Other expenses came in at Rs 371 crore (Rs 3,715 million), slightly lower than Rs 393 crore (Rs 3,938 million) in FY25.
On the balance sheet front, total assets expanded to Rs 4,961 crore (Rs 49,610 million) as of March 31, 2026, from Rs 3,532 crore (Rs 35,322 million) a year earlier, driven largely by a surge in inventories to Rs 2,672 crore (Rs 26,718 million). Equity also strengthened to Rs 1,803 crore (Rs 18,030 million), nearly doubling from Rs 911 crore (Rs 9,107 million).
Cash flows reflected the cost of growth. Net cash used in operating activities stood at Rs 199 crore (Rs 1,990 million), while investing activities saw an outflow of Rs 239 crore (Rs 2,392 million). Financing activities, however, generated Rs 497 crore (Rs 4,971 million), helping the company end the year with cash and cash equivalents of Rs 108 crore (Rs 1,075 million), up from Rs 49 crore (Rs 487 million).
Earnings per share for FY26 came in at Rs 1.10, a sharp improvement from a negative Rs 79.74 in FY25, underlining the shift from losses to profitability.
With revenue scaling up, costs still glittering on the higher side, and profitability finally back in the black, BlueStone’s FY26 performance suggests a business mid-transition less about shine alone, and more about sustaining it.
