Nazara Technologies, a digital gaming and sports platform, reported a 17 percent drop in consolidated profit after tax to Rs 14.8 crore for the third quarter ended December 31, 2021 on Friday. In the previous fiscal quarter, the company had a profit after tax of Rs 17.9 crore.
Its consolidated revenue from operations increased 42.48 percent to Rs 185.8 crore in October-December 2021, compared to Rs 130.4 crore the previous year.
The company’s consolidated PAT increased by more than fourfold to Rs 42.8 crore for the nine months ended December 31, 2021, compared to Rs 9.4 crore the previous year.
The company’s revenue from operations increased by 35% to Rs 446.6 crore in the three quarters ended December 31, 2021, compared to Rs 330.8 crore in the same period the previous year.
“Overall, we are pleased with our growth in strategic areas of focus while maintaining healthy profitability and cash flows.
“We have witnessed 75% year-on-year growth in the e-sports segment for nine months of the financial year 2022, led by strong growth in revenue across all sub-segments in Nodwin and SportsKeeda,” Nazara Technologies Group CEO Manish Agarwal said.
He said the addition of original IPs such as NH7 Weekender and “the expansion of our e-sports business into the Middle East via our acquisition of Publishme has further accelerated the growth momentum”.
“Nazara’s strategy of having a diversified portfolio across business segments in gaming continues to provide us with a stable and strong platform on which we can continue to build future growth and success,” Agarwal said.
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