Nazara's net profit slides to ₹9.84 crore, revenue from ops declines 24%

Gaming firm Nazara Technologies reports sharp fall in Q3FY26 profit and revenue after real money gaming ban hit subsidiary operations

Gaming and sports media firm Nazara Technologies reported a 68 per cent decline in consolidated net profit to Rs 9.84 crore in the third quarter of FY26, compared to Rs 30.68 crore in Q3FY25.

 

The reduced net profit in the December quarter comes after the company posted a net loss of Rs 29.35 crore in Q2FY26 following the ban on real money gaming in the country, which affected one of its subsidiaries.

 

The company’s revenue from operations declined 24 per cent to Rs 405.97 crore in Q3FY26 from Rs 534.69 crore in Q3FY25. Sequentially, it slumped 42 per cent from Rs 526.46 crore in Q2FY26.

 

 

Nazara’s other income nearly halved to Rs 11.34 crore in Q3FY26 from Rs 21.94 crore in Q3FY25.

 

In Q2FY26, the firm had posted Rs 1,104.46 crore in other income after it ceased control of Nodwin Gaming, which became an associate entity, triggering a Rs 1,098.46 crore gain from the revaluation of its investment in Nodwin.

 

Addition to the topline from other income typically arises from a company’s non-core activities, such as dividends and interest, among other sources.

 

The firm cut its expenses by 24.23 per cent to Rs 402.28 crore in Q3FY26 from Rs 530.96 crore in Q3FY25. Sequentially, expenses declined by a similar magnitude from Rs 534.25 crore in Q2FY26.

 

At the group level, the company said it recognised an impairment loss of Rs 914.7 crore at the end of December 2025 following the real money gaming (RMG) ban. It had investments in its subsidiary Moonshine Technologies, which offered RMG.

 

Moonshine operated platforms such as PokerBaazi and other card-based real money gaming properties that were impacted by the Online Gaming Act.

 

“The quarter was driven by disciplined execution, improving operating efficiency, and multiple growth engines across new launches, live content expansion, and platform extensions. We remain focused on disciplined capital allocation, including through strategic acquisitions where Nazara’s operating platform can accelerate scale, improve unit economics, and drive long-term value creation,” said Nitish Mittersain, joint managing director and chief executive officer of Nazara Technologies.

 

Nazara’s portfolio includes Curve Games, Kiddopia, Animal Jam, Fusebox Games (Love Island, Big Brother, Bigg Boss), World Cricket Championship and Sportskeeda, along with offline ventures such as Funky Monkeys and Smaaash Entertainment.