Nazara Technologies Q2 net profit rises 9.8% to Rs 14.5 crore

Gaming firm Nazara Technologies on Friday posted an increase of 9.8 per cent in consolidated net profit at Rs 14.5 crore for the September 2021 quarter.

The company had reported a net profit of Rs 13.2 crore in the July-September 2020 period, Nazara Technologies said in a regulatory filing.

Its revenue during reported quarter jumped 17.8 per cent to Rs 129.6 crore, compared with Rs 110 crore in the year-ago period, it added.

The e-sports segment's revenue grew 34.2 per cent to Rs 49.8 crore, while that of the Gamified early learning segment jumped about 25.3 per cent to Rs 53.9 crore in the September 2021 quarter from the year-ago period.

Revenue from freemium, telco-subscription and real money gaming stood at Rs 4.2 crore, Rs 16.6 crore and Rs 5.1 crore, respectively, in the reported quarter.

Nazara Technologies Group CEO Manish Agarwal said the company has built strong execution platform in the first half of the year.

"And, we expect to accelerate revenue growth further in the latter half on the back of strong tailwinds. We expect our FY22 consolidated revenues to grow in the range of 35-40 per cent on a year-on-year basis with Ebitda (earnings before interest, tax, depreciation and amortisation) margins profile at 13-15 per cent," he added.

Agarwal stated that the growth shall be supported by organic and inorganic activities.