Gaming
Riot Games announces India Closed Qualifiers for ‘Convergence’
Mumbai: ‘Convergence’ by Riot Games in partnership with The Esports Club, is all set to showcase India’s esports prowess as the company today announced its plans to host an India Closed Qualifiers into the upcoming tournament. Joining forces with Lenovo as the Title Sponsor for its first ever international VALORANT esports tournament in India, Riot Games is committed to promoting local teams in the tournament scheduled between 14 to 17 December, 2023 at the Manpho Convention Center in Bangalore.
The India Closed Qualifiers will witness Indian VALORANT teams earn a chance to compete with some of the best professional VALORANT teams from Riot’s International Leagues from across the Pacific, EMEA and Americas. Scheduled to begin on 30 November, the closed qualifiers will invite the top six professional VALORANT teams from India to battle it out and secure a spot in the main tournament. The six teams will follow a Double Elimination format to select the home team that will join the Convergence main event. The upper bracket and lower bracket finals, as well as a grand finale of the qualifiers will be streamed on The Esports Club’s YouTube Channel, starting from 29 November. All teams have secured their invitation to the qualifiers based on their performance in the Indian domestic season in 2023.
Riot Games esports lead India & South Asia Sukamal Pegu said, “We are super excited to announce that the India Closed Qualifiers gives top local teams a great platform to showcase skills and play against some of the best professional VALORANT teams in the world. The goal behind Convergence is to grow esports talent in India and the qualifiers are a testament to the hyperlocal opportunities we are creating for our VALORANT community in the region.”
“Lenovo India has been championing esports as a dedicated way to reach out to gaming audiences, and with VALORANT being a popular title that’s well enjoyed across India we have been engaging with the title during various online and offline events. With our portfolio of great gaming products on Legion and LOQ, we feel it’s a great way for Lenovo to be seen and experienced by relevant younger TG who we believe will be glad that we are able to bring a great esports event to India” said Lenovo India director – marketing Chandrika Jain.
The main Convergence event starting from 14 December will be broadcast live in English on Riot’s Pacific Channels and in Hindi on Riot’s South Asia channels. The Esports Club will also carry the broadcasts on their channels.
Bolstering the gaming culture in India, Riot Games has been actively involved in fostering community engagement and enhancing the player experience with multiple initiatives over the past year. Recently, Riot Games celebrated the one-year anniversary of VALORANT’s first ever Indian agent Harbor by conducting a beach clean-up with the Indian gaming community, and also commemorated the third anniversary of VALORANT in India with BHARAT VALORANT celebrations.
The gaming community can witness the live action of the upcoming Convergence tournament through free and paid ticket options. Stay tuned for further details on ticketing set to be revealed in the coming weeks.
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.
