One 97: GST Matter on Discontinued Games Business Has No Impact

One 97 Communications Ltd clarifies that the Supreme Court's upholding of the 28% GST levy on online gaming relates to its discontinued First Games Technology Private Limited (FGTPL) business and does not impact the company's operations or financials. FGTPL's real money gaming business was discontinued on August 25, 2025. A GST Show Cause Notice of ₹5,712 crores, received on April 28, 2025, is pending adjudication. The carrying value of investment in FGTPL is already nil, with no incremental impact on One 97's consolidated financial statements. FGTPL is treated as a JV, and its revenues are not consolidated.