Nazara Technologies Sees Two-Fold Profit Surge in First Quarter
Nazara Technologies reported a significant increase in net profit to Rs 51.3 crore in the first quarter, driven by strong performances in its gaming segment and ad tech revenue. The company also announced leadership enhancements and bonus equity share issuance, reinforcing its commitment to sustained growth.
- Country:
- India
Nazara Technologies, a prominent digital gaming and e-sports platform, has announced a remarkable two-fold increase in its consolidated net profit, reaching Rs 51.3 crore for the first quarter ending June 30. This impressive growth compares to a net profit of Rs 23.62 crore in the same period last year, as revealed in a regulatory filing.
The company's revenue from operations nearly doubled, reaching Rs 498.77 crore, up from Rs 250 crore in the June 2024 quarter. Joint MD and CEO Nitish Mittersain attributed this success to a strategic focus on IP-led gaming, with plans to expand its IP portfolio and enhance user acquisition.
The gaming segment alone saw a 2.5-fold increase, reaching Rs 240 crore, while ad tech revenue quadrupled year-over-year. The eSports revenue grew by 16%, driven by notable contributions from Fusebox, Animal Jam, and Curve Games. Additionally, the company's board approved a stock split and bonus equity share issuance.
(With inputs from agencies.)
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