Nazara Technologies reports two-fold jump in Q1 net profit to Rs 51.3 crore

New Delhi: Digital gaming and e-sports platform Nazara Technologies has reported a two-fold jump in its consolidated net profit to Rs 51.3 crore in the first quarter ended June 30.

The company had posted a net profit of Rs 23.62 crore in the same period a year ago, the company said in a regulatory filing.

The revenue from operations of Nazara Technologies almost doubled to Rs 498.77 crore during the reported quarter from Rs 250 crore in the June 2024 quarter.

"We are seeing early results from our sharpened focus on IP-led gaming and are reinvesting this momentum into expanding our IP portfolio and strengthening UA to drive sustained growth.

"We have also strengthened our leadership team with recent appointments bringing deep expertise in gaming," Nazara Technologies Joint MD and CEO Nitish Mittersain said in a statement.

The gaming segment revenue increased over 2.5 times to Rs 240 crore in the first quarter from Rs 92.8 crore it posted in the corresponding quarter of the preceding fiscal year.

The company's ad tech revenue jumped over fourfold to Rs 106 crore from Rs 25.67 crore on a year-on-year basis, while eSports revenue, comprising business from Nodwin and Sportskeeda, increased by 16 per cent to about Rs 154 crore from Rs 131.87 crore.

"The growth was led by strong performances from Fusebox, Animal Jam, and Curve Games, supported by the company’s Centres of Excellence in User Acquisition and Analytics," the statement said.

The company's board approved the sub-division of one equity share of face value of Rs 4 each, fully paid-up, into 2 equity shares of face value of Rs 2 each.

Nazara Technologies also announced the issue of bonus equity shares in the ratio of 1 bonus equity share of Rs 2 each for every 1 equity share of Rs 2 each.