MUMBAI: Diversified gaming and sports media company Nazara Technologies has reported a steep fall of 53.7 percent in its net profit for the third quarter ended 31 December, 2024. It fell to Rs 13.68 crore for the quarter, from Rs 29.52 crore in the same quarter last year.
But it also reported its highest-ever quarterly EBITDA of Rs. 52.4 crores in Q3FY25, reflecting a 39% year-on-year growth. The company has also announced revenues of Rs. 534.7 crores a 67 percent jump and a PAT of 13.7 crores for the same period.
Nazara’s core Gaming segment revenues grew by 53%, fuelled by strategic acquisitions including Fusebox Games as well as strong performance by existing games such as Animal Jam.
The recent licensing agreements and upcoming integrations of entertainment IPs are aimed at enhancing user growth and engagement going forward. Kiddopia’s collaboration with Mattel’s Barbie and Moonbug’s Little Angel will strengthen engagement among young audiences, while partnerships with well-known franchises including Big Brother and Bigg Boss will enable the gaming vertical to scale.
Nazara also announced the acquisition of gaming IPs CATS: Crash Arena Turbo Stars and King of Thieves. These games will be operated and published by Nazara Technologies Ltd, thereby ensuring revenue and profit from these will accrue directly to the listed entity. We intend to further scale this model in coming quarters
To support its expansion, Nazara is raising INR 495 crores through a preferential equity issue to Axana Estates LLP, led by Arpit Khandelwal and Mithun Sacheti. This capital infusion, combined with Nazara’s strong cash reserves, provides the company with financial flexibility to pursue further acquisitions as well as boost organic growth to drive long-term value creation.
Nitish Mittersain, joint MD, CEO Nazara Technologies said, “This quarter’s performance reflects our continued focus on execution and growth. By expanding our gaming ecosystem, partnering with globally recognized IPs, and driving high-impact acquisitions, we are well-positioned to establish Nazara as a truly global gaming leader from India”
Nazara added that it is focussed on scaling operations, exploring new markets, and enhancing operational efficiencies as it continues its growth journey in the global gaming industry.
