Gaming giant Nazara Technologies on Monday reported a 95% rise in revenue to Rs 520.2 crore during the quarter ended March 31st, helped by revenue gains in its esports vertical.
The Mumbai-based company also saw its net profit from continuing operations attributable to equity shareholders rise to Rs 15.86 crore during this period compared to Rs 8.35 crore in the year-ago quarter.
The esports vertical, the company’s largest segment in terms of earnings, reported a revenue of Rs 217.1 crore during the period compared to Rs 148.2 crore in FY24. However, the firm also slightly weighed in on the company’s bottom line by reporting a loss of Rs 11.47 crore but this was offset by gains in the gaming and ad tech segments.
Nazara’s gaming segment reported a revenue of Rs 156.41 crore compared to Rs 91.03 crore in the year-ago period, while ad tech reported a revenue of Rs 147.9 crore compared to Rs 27.49 crore in FY24.
However, despite the jump in revenue, the company saw its expenses almost double to Rs 527.7 crore during the period compared to Rs 285 crore.
The gaming company has been on an acquisition spree, most recently acquiring UK-based Curve Games for Rs 247 crore as it looks to widen its product portfolio and strengthen its global publishing capabilities.
In January, the company raised Rs 495 crore by selling a 5.4% stake to an entity led by existing investors Arpit Khandelwal and Mithun Sacheti, to further strengthen its capabilities to make strategic acquisitions and expand into new markets.
Shares of Nazara fell 2.16% to Rs 1278.9 apiece as of 03:24 PM on Monday.
Edited by Jyoti Narayan
