Your browser is currently blocking notification.
Please follow this instruction to subscribe:
X
Notifications are already enabled.
X

Nazara Technologies Revenue Grows 42% YoY; Records INR 185.8 Cr In Q3 FY22

Nazara Technologies Revenue Grows 42% YoY; Records INR 185.8 Cr In Q3 FY22

The company EBITDA for Q3 FY22 witnessed a 10% year-on-year growth over Q3 FY20, rising from INR 17.3 Cr to INR 30.2 Cr

The publicly listed company also posted its nine months’ financials for FY22, i.e from April 2021 to December 2021

Nazara has announced its plans to add more offerings in the ‘Friends of Nazara’ network through strategic M&A

Mumbai-based online gaming company Nazara Technologies has clocked revenue of INR 185.8 Cr in the third quarter ended December 2021 in FY22. Compared to the same quarter last year, the gaming company’s revenue has increased by 42% year-on-year (YoY) from INR 130.4 Cr.

Nazara’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) for Q3 FY22, witnessed a 10% year-on-year growth from Q3 FY20, rising from INR 17.3 Cr to INR 30.2 Cr.

Founded in 1999 by Nitish Mittersain, Nazara is a diversified gaming and sports media platform with a presence in India and global markets such as the Middle East, Africa and North America. Nazara had listed publicly after a successful IPO in March 2021, which saw the company’s shares being oversubscribed by 175 times.

Nazara offers interactive gaming, esports and gamified early learning ecosystems and owns IPs such as WCC and CarromClash in mobile games, Kiddopia in gamified early learning, NODWIN and Sportskeeda in esports and esports media and Halaplay and Qunami in skill-based, fantasy and trivia games.

The NSE and BSE listed company also posted its nine months’ financials for FY22, i.e from April 2021 to December 2021. The key figures for 9M FY22 are below –

  • Its revenue from operations increased by 35% year-on-year from INR 330.8 Cr to INR 446.6 Cr
  • Its EBITDA stood at INR 79.7 Cr, a 141% year-on-year growth as opposed to INR 33.1 Cr in FY21
  • Its EBITDA margins stood at 17.8% vs 10.0% for 9M FY21
  • It recorded a profit after tax of INR 42.8 Cr in the nine months — growing 355% year-on-year with a margin of 9.6%.

“We have witnessed 75% YoY growth in the esports segment for 9M FY22 led by strong growth in revenue across all sub-segments in Nodwin and SportsKeeda,” Nazara Technologies said in a statement.

The company’s gamified early learning segment grew by 22% year-on-year for 9M FY22 and skill-based real money gaming grew by 53% — delivering a breakeven EBITDA.

It added that the addition of original IPs such as NH7 Weekender, expansion of esports business into the Middle East via its acquisition of Publishme, has further accelerated the growth momentum. Nazara further announced plans to add more offerings in the ‘Friends of Nazara’ network through strategic M&As.