The operating income of the gaming and e-sports platform, which the late Rakesh Jhunjhunwala supported, increased by about 67% to ₹534.7 crore.
Nazara Tech Q3 Results:
On Thursday, February 13, Nazara Technologies revealed its October-December quarter results for fiscal 2024-25 (Q3FY25). The company’s consolidated net profit dropped 53.6% to ₹13.7 crore from ₹29.5 crore during the same time the previous year.
The gaming and e-sports platform, which the late Rakesh Jhunjhunwala supported, had an almost 67% increase in operating revenue in the third quarter of this fiscal year, reaching ₹534.7 crore, up from ₹320.4 crore in the same period last year.
Nitish Mittersain, Joint Managing Director & Chief Executive Officer (CEO) of Nazara Technologies, stated, “We are well-positioned to establish Nazara as a truly global gaming leader from India by expanding our gaming ecosystem, partnering with globally recognized IPs, and driving high-impact acquisitions.”
Revenues from Nazara Tech’s core gaming division increased by 53% thanks to acquisitions like Fusebox Games and the success of already-released titles like Animal Jam. With quarterly profits before interest, tax, depreciation, and amortization (EBITDA) of ₹52.4 crore in Q3FY25, Nazara Tech recorded its highest-ever earnings, representing a 39% year-over-year increase.
Future user growth and engagement are expected to be significantly enhanced by the recent license deals and impending integrations of well-known entertainment intellectual property. While agreements with popular brands like Big Brother and Bigg Boss will allow the gaming vertical to grow, Kiddopia’s connection with Mattel’s Barbie and Moonbug’s Little Angel will increase engagement among young audiences, according to a statement from Nazara Tech.
Additionally, Nazara said that it has acquired the well-known video game properties CATS: King of Thieves and Crash Arena Turbo Stars. Nazara Technologies will run and distribute these games to guarantee that earnings go straight to the listed company. The gaming business stated in its stock exchange filing, “We plan to scale this model further in the upcoming quarters.”
In the reporting quarter, the EBITDA margin was 6.9%, down from 11.3% during the same time in the prior fiscal year. NNazara Tech owns NODWIN Gaming and Sportskeeda/Pro Football Network. Additionally, it has stock in Comic Con India and PokerBaazi. Nazara Technologies’ stock ended Thursday’s trading session on the BSE 0.61 percent higher at ₹929.15 per share.
Through a preferred stock offer to Axana Estates LLP, Nazara is generating ₹495 crore to fund expansion. In a regulatory statement to the stock markets, the firm stated that the funds raised plus its current cash reserves will provide it the financial flexibility to seek other acquisitions and accelerate organic growth to create long-term value.
