Rakesh Jhunjhunwala-backed Nazara Technologies posts Rs 13.6 crore profit for Q1

Gaming firm Nazara Technologies on Friday posted a net profit of Rs 13.6 crore for the June 2021 quarter. The company had reported a loss of Rs 21.7 crore in the April-June 2020 period, Nazara Technologies said in a regulatory filing.

Its revenue during April-June 2021 jumped 45 percent to Rs 131.2 crore, compared with Rs 90.5 crore in the year-ago period. The e-sports segment’s revenue doubled to Rs 53.2 crore, while that of Gamified early learning segment grew about 46 percent to Rs 52.1 crore in the June 2021 quarter from the year-ago period.

Revenue from freemium, telco subscription and real money gaming stood at Rs 5.8 crore, Rs 17.9 crore and Rs 2.2 crore, respectively, in the reported quarter.

“The Q1 FY22 results revenue growth and especially enhanced EBITDA margins demonstrate intrinsic strength and profitability of the underlying businesses across all of three growth segments,” said the company.

“However, we will continue to prioritise strategic growth over margin optimisation to ensure that we continue to achieve and maintain leadership in segments we operate,” Nazara Technologies Group CEO Manish Agarwal said.

EBITDA stands for earnings before interest, tax, depreciation and amortisation.

He added that Nazara continues to see strong consumer and partner interest across each of the segments. Business key performance indicators across segments continue to remain healthy in this quarter, which will further help in reinforcing leadership position of the company across e-sports, he said.