Sat, 10 Dec 2022

Nazara Tech posts 11 pc rise in net profit

ANI
22 Nov 2022, 04:37 GMT+10

Mumbai (Maharashtra) [India], November 21 (ANI): Nazara Technologies on Monday posted a surge of 11 per cent in its profit after tax to Rs 169 crore for the quarter ended September 2022, against Rs 153 crore in the year-ago period.

The company said its revenues went up 104 per cent to Rs 2,638 in the reviewed quarter, against Rs 1,296 crore in the corresponding quarter the previous year, according to a statement shared with stock exchanges.

Ebitda or operating profit went up 9% to Rs 213 crore, against Rs 195 in the year-ago period. The company's revenues during the first half of the financial year 2022-23 rose 87 per cent to Rs 4,869 crore, against Rs 2,608 crore in the year-ago period. While profit after tax during the first half of fiscal 2022-23 grew 16 per cent to Rs 334 crore, against Rs 288 crore in the year-ago period. Ebitda or operating profit went up 4 per cent to Rs 514 crore, against Rs 496 crore in the year-ago period.

The shares of the company were trading 1.11 per cent down at Rs 6.75 apiece at 2.24 pm on BSE on Monday.

Nazara is a diversified gaming and sports media platform with a presence in India and across emerging and developed global markets such as Africa and North America, with offerings across the interactive gaming, e-sports and gamified early learning ecosystems. The firm owns Sportskeeda, a sports news website founded in 2009.

Nazara Technologies, backed by late stock broker Rakesh Jhunjhunwala, was the first Indian gaming technology company to seek a market debut. (ANI)

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