Rakesh Jhunjhunwala backed Nazara posts Rs 13.6 crores net profit | Markets News

Rakesh Jhunjhunwala backed Nazara posts Rs 13.6 crores net profit | Markets News


New Delhi: 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 per cent 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 per cent 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.

“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.

“The recent acquisition of a majority stake in Publishme will further amplify our presence in MENA (Middle East and North Africa) region. The acquisition will focus to build local execution capabilities cutting across key growth segments of freemium, gamified learning and e-sports,” Agarwal said.

In June, Nazara had announced the acquisition of 69.82 percent stake in Publishme, the largest mobile game publishing agency in the Middle East and Turkey, for about Rs 20 crore.

A separate filing by the firm on Friday said Nazara Technologies FZ?LLC, a wholly owned subsidiary of the company (in Dubai), has incorporated ‘Publishme Global FZ-LLC’ as a wholly owned subsidiary in Dubai Media City.

Consequent to the said incorporation, Publishme Global FZ-LLC has become a step down wholly-owned subsidiary of the company, it added. Also Read: Maharashtra FDA issues notices to Amazon, Flipkart for selling pregnancy termination pills

The entity has been incorporated for carrying out activities including digital content creation, gaming and e-sports, media and marketing services, media and marketing consultancy, and news media, it said. Also Read: Secure your future with India Post: Get Rs 3300 pension by investing Rs 50,000

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