Mumbai-based gaming platform Nazara Technologies posted a consolidated profit of INR 5.3 Cr in the Q1 of FY 22, a sharp improvement from the INR 27.9 Cr loss it posted in Q1 of FY 21.
In terms of revenue, the company generated INR 131.2 Cr, a 45% higher against INR 90.5 Cr the company posted in the first quarter of the last year.
Nazara’s EBITDA (earnings before interest, taxes, depreciation, and amortization) margin, clocked at 22.9% in Q1 of FY22 as against a negative 14.8% for the Q1 of the last financial year. EBITDA stood at INR 30.1 Cr as against INR 13.4 Cr in Q1 of FY21. EBITDA is considered a key measure to look at the company’s overall financial performance.
In terms of the business segment, eSports contributed INR 53.2 Cr, a 100% rise from INR 26.6 Cr. Gamified early learning posted INR 52.1 Cr a 46% rise from Q1 of FY 21. Telco subscription business segments saw a drop from INR 22.1 Cr Q1 FY 21 to INR 17.9 Cr.
Nazara recorded a total consolidated expenditure of INR 114.5 Cr a slightly higher than INR 113 Cr. in Q1 of FY 21.
Commenting on the performance, Manish Agarwal, group CEO, said “The Q1 FY22 results revenue growth and especially enhanced ebitda margins demonstrate intrinsic strength & profitability of the underlying businesses across all of three growth segments. However, we will continue to prioritise strategic growth over margin optimization to ensure that we continue to achieve and maintain leadership in segments we operate. Nazara continues to see strong consumer and partner interest across each of our segments and business KPIs across segments continue to remain healthy in this quarter which will further help in reinforcing leadership position of the Company across esports, gamified learning and cricket simulation mobile game.”
Nazara Technologies was started by Mittersain in 2000 and is India’s diversified gaming and sports media platform. The company has a presence in India and across emerging and developed global markets such as Africa and North America, with offerings across the interactive gaming, esports and gamified early learning ecosystems. Halaplay, Sportskeeda, Nodwin, Paper Boat Apps, Sports Unity, are among few of the subsidiaries of Nazara Technologies.
The company has also acquired a majority stake in a game publishing agency of Middleast and Turkey worth INR 20 Cr to strengthen its presence in the Middleeast and North Africa region.
Nazara in March this year went public by offering 5,294,392 equity shares of face value of INR 4 each. The INR 581 Cr IPO was subscribed 175 times on the final day of bidding. At the time of filing the story, Nazara’s shares were trading at INR 1,852.00.
