** Shares of Playside Studios PLY.AX drop as much as 48.7% to an all-time low of A$0.195

** PLY top loser on ASX All Ordinaries index .AORD

** The video game developer swings to HY EBITDA loss and posts 21% drop in HY revenue

** Sees FY EBITDA loss of A$6 mln ($3.74 mln) to A$10 mln vs previous forecast of up to A$5 mln profit

** Trading volumes nearly 28x the 30-day avg

** Stock down ~50.6% YTD, including day's losses

($1 = 1.6046 Australian dollars)

(Reporting by Himanshi Akhand in Bengaluru)

((Himanshi.Akhand@thomsonreuters.com;))