Nazara Technologies Reports 43.6% Increase in Q4 FY24 Net Profit
New Delhi: Gaming and sports media platform Nazara Technologies announced a net profit of Rs 17.1 crore from its continued operations for the January-March quarter of FY24, marking a 43.6% increase compared to Rs 11.9 crore in the same period last fiscal year.
The company’s operating revenue for the quarter stood at Rs 266.2 crore, an 8% decline year-on-year from Rs 289.3 crore in Q4 FY23.
For the full fiscal year, Nazara Technologies reported a net profit increase of 21.8%, reaching Rs 74.8 crore compared to Rs 61.4 crore in FY23. The revenue for FY24 rose by 4.3% to Rs 1,138.3 crore, up from Rs 1,091 crore in FY23.
“FY24 has been a year of building a strong foundation for rapid future scaling. We achieved a 4.3% revenue growth and a 16.5% EBITDA growth,” said Nitish Mittersain, Founder, CEO, and Joint MD of Nazara Technologies.
The company reported an increase in operating cash flow to Rs 131.4 crore, indicating robust underlying performance. “We raised Rs 950 crore at Nazara and subsidiaries, our largest fundraise to date, resulting in a net cash balance of Rs 1,450 crore,” Mittersain added.
Nazara Technologies operates in various sectors, including gaming (World Cricket Championship, Kiddopia, Animal Jam, Classic Rummy), esports (Nodwin Gaming, Sportskeeda), and advertising (Datawrkz).
“We are optimistic about FY25, expecting accelerated growth in both revenue and EBITDA,” Mittersain said.
The company also announced the acquisition of a 100% stake in Nextwave Multimedia Private Limited, developers of the popular mobile cricket games under the “World Cricket Championship” franchise.
