Nazara Technologies records Rs. 13.6 crore profit for Q1

In almost every aspect, Nazara Technologies has proved the elevation. Net Profit, Revenue of E-sports, Gamified learning segment proved to be far better than 2020. Strategies are being formulated to maintain and elevate the current position in the coming quarters.

Nazara Technologies, a gaming firm, on Friday announced that June 2021 quarter proved to be beneficial for them. A net profit of Rs 13.6 crore was attained.

This is the contrast of the last report posted by the company of the quarter of 2020. A loss of Rs 21.7 crore in the April-June 2020 was encountered by Rakesh Jhunjhunwala-backed Nazara Technologies.

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The revenue of the company was just Rs 90.5 crore in 2020 but, became Rs 131.2 crore in June 2021. An extension of 45% proved to be a delighted moment for the company. The revenue of the E-sports segment doubled.

46 per cent expansion in the Gamified early learning segment is also one among the many accomplishments of Nazara.

In this quarter, Real money, Telco subscription, Freemium revenue stood Rs 2.2 crore, Rs 17.9 crore, Rs 5.8 crore sequentially.

According to the reports by Moneycontrol, “The Q1 FY22 results revenue growth and specially enhanced EBITDA margins demonstrate intrinsic strength and profitability of the underlying businesses across all of three growth segments,” said the CEO of the company.

He further talked about prospective strategies to lead the organization and achieve heights.

Manish Agrawal, the CEO, asserted, “However, we will continue to prioritize strategic growth over margin optimization to ensure that we continue to achieve and maintain leadership in segments we operate.”

He said that the company continues seeing a loyal consumer base and growing partner interest across all segments. He added that the business key performers remain healthy this quarter. This is help reinforce leadership position in the company, especially across e-sports.

According to Moneycontrol, Agarwal said, “The recent acquisition of a majority stake in Publishme will further amplify our presence in MENA (Middle East and North Africa) region. The acquisition will focus to build local execution capabilities cutting across key growth segments of freemium, gamified learning and e-sports.”

In almost every aspect, Nazara Technologies has proved the elevation. Net Profit, Revenue of E-sports, Gamified learning segment proved to be far better than 2020. Strategies are being formulated to maintain and elevate the current position.