Nazara Technologies Q1 profit rises 22% to Rs 16.5 crore, revenue jumps 70%

Sports media and mobile gaming company Nazara Technologies on July 29 reported more than 22 percent year-on-year (YoY) growth in its consolidated net profit at Rs 16.5 crore for the quarter ended June 2022 (Q1FY23), backed by strong revenue growth.

Revenue during the quarter surged 70 percent to Rs 223.1 crore compared to the corresponding period of the last fiscal, the company said in its BSE filing.

The sequential growth in the bottom line was 237 percent and it was a 27.4 percent increase in the top line for the June FY23 quarter.

“The multi-pronged approach to capture opportunities has been yielding positive traction and we are in line with our target growth plans for FY23,” Manish Agarwal, CEO said.

Agarwal further said the traction across businesses; E-sports and Real Money Gaming witnessed strong growth while the addition of a new growth engine in form of Datawrkz has augmented well for the business. “We have also seen stabilisation of unit economics for Gamified Early Learning business.” Money Control