Nazara Tech Q3 Results: Net profit slumps 53% to ₹14 crore, revenue up 67% YoY; Highest-ever EBITDA recorded | Stock Market News
Nazara Tech Q3 Results: Nazara Technologies announced its October-December quarter results for fiscal 2024-25 (Q3FY25) on Thursday, February 13, reporting a steep decline of 53.6 per cent in its consolidated net profit to ₹13.7 crore, compared to ₹29.5 crore in the corresponding period last year.
The late Rakesh Jhunjhunwala-backed gaming and e-sports platform’s revenue from operations in the third quarter of the current fiscal surged nearly 67 per cent to ₹534.7 crore, compared to ₹320.4 crore in the year-ago period.
“By expanding our gaming ecosystem, partnering with globally recognized IPs, and driving high-impact acquisitions, we are well-positioned to establish Nazara as a truly global gaming leader from India,” said Nitish Mittersain, Joint Managing Director & Chief Executive Officer (CEO) of Nazara Technologies.
Nazara Tech Q3 Results: Key Metrics
Nazara Tech’s core gaming segment revenues grew by 53 per cent, driven by acquisitions including Fusebox Games and strong performance by existing games such as Animal Jam. Nazara Tech reported its highest-ever quarterly earnings before interest, tax, depreciation, and amortisation (EBITDA) of ₹52.4 crore in Q3FY25, reflecting 39 per cent year-on-year growth.
“The recent licensing agreements and upcoming integrations of popular entertainment IPs are further set to enhance user growth and engagement going forward. Kiddopia’s collaboration with Mattel’s Barbie and Moonbug’s Little Angel will strengthen engagement among young audiences, while partnerships with well-known franchises, including Big Brother and Bigg Boss, will enable the gaming vertical to scale,” said Nazara Tech in its statement.
Nazara also announced the acquisition of popular gaming IPs CATS: Crash Arena Turbo Stars and King of Thieves. These games will be operated and published by Nazara Technologies to ensure revenue and profit accrue directly to the listed entity. “We intend to scale this model further in the coming quarters,” said the gaming company in its stock exchange filing.
EBITDA margin stood at 6.9 per cent in the reporting quarter compared to 11.3 per cent in the corresponding period in the previous fiscal. Nazara Tech holds ownership of NODWIN Gaming and Sportskeeda/Pro Football Network. It also holds a stake in PokerBaazi and Comic Con India. On Thursday, shares of Nazara Technologies settled 0.61 per cent higher at ₹929.15 apiece on the BSE.
“To support expansion, Nazara is raising ₹495 crore through a preferential equity issue to Axana Estates LLP. The fundraising and the company’s existing cash reserves will provide the company with the financial flexibility to pursue further acquisitions and boost organic growth to drive long-term value creation,” said the company in a regulatory filing to the stock exchanges.
