Nazara logs net sales at Rs 254 cr, PAT surges 31% to Rs 20.9 cr

New Delhi, July 28 (SocialNews.XYZ) Gaming and sports media platform Nazara Technologies on Friday said its profit after tax (PAT) surged 31 per cent per cent to Rs 20.9 crore (year-on-year) in the the first quarter of current financial year.

The revenue grew 14 per cent (YoY) to Rs 254.4 crore and EBITDA by 10 per cent to Rs 33.1 crore for the quarter ended June 30.

“Our revenue and EBITDA growth is expected to accelerate in coming quarters due to seasonality and our decision to defer key esports launches to benefit from upcoming opportunities,” said Nitish Mittersain, Founder and CEO of Nazara Technologies.

Sportskeeda continued to deliver a strong performance with a strong 52 per cent growth YoY in revenues and 55 per cent in EBITDA.

“We continue to build a healthy pipeline of M&A opportunities in various segments that we operate in with a focus on adding gaming IPs and strong teams to our platform,” Mittersain added.

According to him, this was the 10th quarterly results since the company’s IPO, delivering consistent YoY growth in revenues and profits.

“We remain dedicated to our stated vision of building out a well-diversified gaming platform that keeps growing stronger as the gaming industry evolves,” Mittersain added.

Nazara has offerings across the interactive gaming, eSports, ad-tech and gamified early learning ecosystems.

It includes World Cricket Championship (WCC) in mobile games, Kiddopia and Wildworks in gamified early learning, Nodwin, PublishMe and Sportskeeda in eSports and eSports media, OpenPlay, Halaplay and Qunami in skill-based, fantasy and trivia games, and Datawrkz in digital ad-tech.

Source: IANS