IANS | 26 May, 2024
Gaming and sports media platform Nazara Technologies on Saturday
announced net profit from its continued operations at Rs 17.1 crore in the
January-March quarter of FY24, up 43.6 per cent compared to Rs 11.9 crore in
the same period in the last fiscal year.
The operating revenue was at Rs 266.2 crore for the quarter, down 8 per
cent year-on-year, from Rs 289.3 crore in the same quarter in FY23.
For the full fiscal year, net profit increased by 21.8 per cent to Rs
74.8 crore as against Rs 61.4 crore in FY23, the company said in a statement.
The revenue went up 4.3 per cent for FY24 to Rs 1,138.3 crore as against
Rs 1,091 crore in FY23.
“FY24 has been a year of building a strong foundation for rapid future
scaling. We achieved a 4.3 per cent revenue growth and a 16.5 per cent EBITDA
growth,” said Nitish Mittersain, Founder, CEO and Joint MD of Nazara
Technologies.
Notably, the operating cash flow increased to Rs 131.4 crore, reflecting
the company's strong underlying performance.
“We raised Rs 950 crore at Nazara and subsidiaries, our largest
fundraise to date, resulting in a net cash balance of Rs 1,450 crores,” he
informed.
Nazara operates in gaming (World Cricket Championship, Kiddopia, Animal
Jam, Classic Rummy etc), esports (Nodwin Gaming, Sportskeeda) and advertising
(Datawrkz).
“We are optimistic about FY25, expecting accelerated growth in both
revenue and EBITDA,” said Mittersain.
The company has announced acquisition of 100 per cent stake in Nextwave
Multimedia Private Limited, developers of the popular mobile cricket games
under the “World Cricket Championship” franchise.”
--IANS