Nazara posts record EBITDA of Rs 153.5 crore in FY25 on Rs 1,624 crore revenue

New Delhi: Nazara Technologies has reported its highest-ever annual EBITDA of Rs 153.5 crore for the financial year 2024–25 (FY25) on revenue of Rs 1,624 crore. The company’s core gaming segment registered a 19.9% EBITDA margin, while overall margins stood at 9.4%. Profit after tax (PAT) from continuing operations came in at Rs 62.5 crore, and pre-tax operating cash flow was Rs 118.3 crore.

In the fourth quarter of FY25, Nazara reported a 95% year-on-year growth in revenue at Rs 520.2 crore. EBITDA for the quarter rose 74% to Rs 51 crore. Growth was attributed to stronger performance in its core gaming portfolio, including Fusebox and Animal Jam, as well as improved unit economics in Kiddopia. Margins remained steady despite elevated spending on user acquisition and the integration of new intellectual property (IP).

During FY25, the company expanded into narrative mobile gaming through its acquisition of Fusebox Games and moved into offline entertainment by acquiring Funky Monkeys and Smaaash. It also assumed full ownership of Kiddopia and Sportskeeda, which, according to the company, enabled fungible cash flows and faster integration.

Nazara also made its largest investment to date in PokerBaazi, citing it as a move to reinforce its position in the skill-based real money gaming sector. It licensed and integrated global IPs including C.A.T.S. and King of Thieves, aimed at enhancing long-term cash flow visibility.

The company also operationalised its Centres of Excellence for User Acquisition, Analytics, and Artificial Intelligence, with the stated goal of improving efficiencies across business units and supporting organic growth.

Looking ahead, the company expects a greater contribution from high-margin verticals in FY26, which could potentially support profitability and international expansion.

Joint Managing Director and CEO Nitish Mittersain said, “FY25 has been a pivotal year in Nazara’s journey—marked by record profitability, deeper control across key businesses, and the successful execution of our Nazara 3.0 strategy…. As we enter FY26, we are poised for accelerated growth with increasing contributions from our core gaming portfolio.”