Its revenue from operations during Q2FY22 rose was INR 129.6 Cr
During the April-September, it recorded a positive net cash flow from operations of INR 48.9 Cr in H1FY22
It catered to 62.59 Mn Average Monthly Active Users (MAUs) in FY21, witnessing a growth of 56% YoY
Gaming and sports company Nazara Technologies has reported a 9.8% increase in its consolidated net profit for the second quarter (July-September) of FY22 at INR 14.5 Cr.
During the same period of the last fiscal (FY21), the Rakesh Jhunjhunwala-backed gaming giant had reported a net profit of INR 13.5 Cr.
Its revenue from operations during the period was INR 129.6 Cr, 17.8% higher than INR 110 Cr earned during the corresponding quarter of FY21.
The expenses of the Mumbai-based company soared 22.3% in the last quarter on a year-on-year basis to INR 120.5 Cr.
For the half year ended September, the company reported a 30% year-on-year (YoY) growth at INR 260.8 Cr, while the net profit stood at INR 28 Cr against a net loss of INR 8.3 Cr.
In a statement, the gaming major also said that during the April-September quarter, it recorded a positive net cash flow from operations of INR 48.9 Cr in H1FY22.
Manish Agarwal, Group CEO, said: “We have built a strong execution platform in the first half of the year and we expect to accelerate revenue growth further in the latter half on the back of strong tailwinds.”
“We expect our FY22 consolidated revenues to grow in the range of 35%-40% on YoY basis with an EBITDA margins profile at 13% – 15%. The growth shall be supported by organic and inorganic activities,” he said.
On the segment-wise performance during H1FY22, Nazara said that the Esports segment grew by 62% YoY to Rs. 103 Cr and ‘gamified early learning’ segment grew by 35% YoY to INR 105.9 Cr during the period.
The company catered to 62.59 Mn Average Monthly Active Users (MAUs) in FY21, witnessing a growth of 56% YoY.
In a presentation filed with the stock exchanges, gaming major said that going forward it plans to build on its “leading market position and growth opportunity in India” and enhance its existing offerings and increase monetisation opportunities.
It is eyeing to pursue strategic investment and acquisition opportunities and further build the existing technology stack to enhance the platform.
The company is also on an acquisition spree; in August it market its second acquisition post IPO. It acquired Hyderabad’s OpenPlay Technologies Private Limited for INR 186.41 Cr.
Nazara had also acquired a majority stake (69.82%) in Turkey and West Asia based mobile gaming publishing agency, Publishme in June this year.
Earlier this month, it raised INR 315 Cr through preferential allotment of fresh equity to existing institutional investors Gamnat Pte Ltd and Plutus Wealth Management, with an aim to invest in growth initiatives and pursue strategic acquisitions.
Nazara became the first Indian gaming firm to go public in March this year as it got listed at INR 1,670.70 which was at a premium of 80% to the issue price.
On October 8, its market capitalisation crossed the INR 10,000 Cr mark post the INR 315 Cr fundraise. Currently, its market cap is at INR 8,056.91 Cr.
Started by Nitish Mittersain in 2000, Nazara, at present, boasts of having a presence in India and across emerging and developed global markets such as Africa and North America, with offerings across interactive gaming, esports and gamified early learning ecosystems.