NEW DELHI: Shares of Indian online gaming firms Nazara Technologies, Onmobile Global and Delta Corp slid yesterday, a day after the government imposed a 28% tax on the funds collected by online gaming companies from customers.

       Some industry representatives said the tax would eat into earnings despite Finance Minister Nirmala Sitharaman having said that the decision was taken after consultation with states and had no intent to hurt the industry.

       Nazara Technologies said yesterday that the tax will apply only to the skill-based real money gaming segment of its business, which they saidcontributed 5.2% to consolidated revenue in the financial year 2023.

       The company added that it anticipates minimal impact to its overall revenue.

       The tax will not differentiate skill-based games from those based on chance, Maharashtra state minister Sudhir Mungantiwar said on Tuesday. — Reuters