Nazara Tech gains after investing Rs 196-cr in five companies

Nazara Technologies rose 1.29% to Rs 1,023.40 after the company announced five investments totaling to Rs 196 crore aimed at solidifying its position in the gaming and entertainment ecosystems.

Nazara has expanded into physical entertainment with the acquisition of a 60% stake in Funky Monkeys Play Centers Private, a leader in indoor soft play centers for children, for Rs 43.7 crore. Funky Monkeys operates 11 centers across India, offering interactive play experiences for children.

The company will also invest Rs 4.2 crore for a 4.7% stake in Learntube.ai, an AI-powered platform revolutionizing education with 1:1 interactive and gamified learning. Catering to over 20 lakh learners, LearnTube is the world largest personalised learning platform that offers affordable, interactive gamified learning experiences for professional skilling.

 

Nazara will invest Rs 148 crore in its existing subsidiaries including Sportskeeda, Nodwin Gaming, and Datawrkz to increase its ownership in them and support their growth.

Nitish Mittersain said: Nazara is committed to building the largest diversified gaming and entertainment platform out of India and many of our initiatives announced today are geared towards propelling profitable growth in these strategic areas of our interest.

Nazara Technologies is India's leading gaming and esports company, owning popular brands like NODWIN Gaming, Sportskeeda, Kiddopia, Animal Jam, World Cricket Championship, and Datawrkz. The company operates in India, the US, and other global markets, offering a diverse range of products and services, including esports, early learning games, casual games, and ad tech solutions.

Nazara Technologies reported a 47.56% decline in consolidated net profit from continuing operations to Rs 11.80 crore despite 7.3% increase in revenue from operations to Rs 318.94 crore in Q2 FY25 over Q2 FY24.

Powered by Capital Market - Live News