The gaming and sports media company's consolidated net profit (from continuing operations) increased 13.23% to Rs 23.62 crore in Q1 FY25 from Rs 20.86 crore reported in Q4 FY23.
Revenue from operations stood at Rs 250.08 crore in Q1 FY25, down 1.71% from Rs 254.43 crore reported in the same period a year ago.
Profit before tax jumped 20.37% year on year to Rs 34.03 crore in the quarter ended 30 June 2024.
EBITDA was at Rs 24.9 crore in Q1 FY25, down 24.7% as against Rs 33.1 crore posted in Q1 FY24. EBITDA margin reduced to 10% in Q1 FY25 as compared to 13% registered in Q1 FY24.
The companys segment revenue from gaming business stood at Rs 92.81 crore (down 15.26% YoY), revenue from eSports business was at Rs 131.87 crore, (up 11.91% YoY), while Ad tech segment revenue stood at Rs 25.67 crore (down 5.17% YoY) during the period under review.
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Nitish Mittersain, joint MD & CEO of Nazara Technologies stated, In Q1 FY25, we achieved revenues of INR 250.1 crores, with an EBITDA of 24.9 crores and PAT of 23.6 crores. We are focused on driving profitable growth in FY25 and beyond via organic growth of our existing businesses as well as M&A, especially in the core gaming sector.
In the recent period, we have announced the acquisition of 100% stake in Paper Boat Apps (Kiddopia) and Fusebox, a leading IP-based gaming studio in the UK. Our existing businesses have also seen M&A activity with NODWIN acquiring 100% of Freaks4U and ComicCon India, while Sportskeeda acquired SoapCentral and Deltias Gaming.
In FY24, our team focused on building a strong pipeline of opportunities and as we move into FY25, we are strategically deploying our cash reserves to acquire businesses that align with our vision and will further strengthen our platform for longterm growth.
Nazara Technologies is a diversified gaming & sports media platform with presence in India and across emerging & developed global markets such as Africa and North America. It has offerings across the interactive gaming, eSports, ad-tech and gamified early learning ecosystems including World Cricket
Shares of Nazara Technologies shed 1.50% to Rs 925.50 on the BSE.
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