Nazara Technologies' profit after tax dips 17% to Rs 14.8 cr in Dec quarter

Digital gaming and sports platform Nazara Technologies on Friday posted about a 17 per cent decline in consolidated profit after tax to Rs 14.8 crore in the third quarter ended December 31, 2021.

The company had registered a PAT of Rs 17.9 crore in the corresponding quarter last fiscal.

Its consolidated revenue from operations during October-December 2021 grew 42.48 per cent to Rs 185.8 crore, compared with Rs 130.4 crore in the year-ago period.

For nine months ended December 31, 2021, the company recorded over four-fold jump in its consolidated PAT at Rs 42.8 crore, from Rs 9.4 crore in the year-ago period.

The firm's revenue from operations also increased 35 per cent to Rs 446.6 crore in the three quarters ended December 31, 2021, from Rs 330.8 crore in the corresponding period of 2020-21.

"Overall, we are pleased with our growth in strategic areas of focus while maintaining healthy profitability and cash flows.

"We have witnessed 75 per cent 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.