Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 165

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 165
---
 offset by decrease of approximately $1,000,000 in non-operating income related to marketing revenue recognized from our vendor who compensated our marketing expense incurred from prior period.

Benefit (Provision) for income tax

We incurred benefit for income taxes of approximately $10,000 for the six months ended September 30, 2024 compared to provision for income taxes of approximately $16,000 for the same period in 2023. The Change was mainly due to decrease of current provision of income tax of approximately $8,000 as we incurred less taxable income, the change was also attributable to increase of deferred tax benefit, which resulted from higher net operating loss (“NOL”) recognized as deferred tax asset for the six months ended September 30, 2024 compare to the same period in 2023.

<div align='center'>98</div>

Net Loss

Our net loss decreased by approximately $1.1 million, or 56.9%, to approximately $0.8 million net loss for the six months ended September 30, 2024, from approximately $1.9 million net loss for the same period in 2023. Such change mainly as a direct effect to the reasons discussed above.

Comparison of the Years Ended March 31, 2024 and 2023

|                               |     | For the Years Ended March 31, |       2024 |   |     |   |       2023 |   |     |   |     Change |   |     |     | Percentage 
     Change |    |
|:------------------------------|:----|:------------------------------|-----------:|:--|:----|:--|-----------:|:--|:----|:--|-----------:|:--|:----|:----|-----------:|:---|
| Revenues                      |     | $                             | 97,534,701 |   |     | $ | 77,444,155 |   |     | $ | 20,090,546 |   |     |     |       25.9 | %  |
| Cost of revenues              |     | $                             | 84,216,243 |   |     | $ | 63,598,608 |   |     | $ | 20,617,635 |   |     |     |       32.4 | %  |
| Gross profit                  |     | $                             | 13,318,458 |   |     | $ | 13,