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Nazara Technologies Reports Rs 1,091.0 Crore In Revenue, Eyes To Increase Stake In Nextwave MultimediaTe

The company is also planning to increase its stake in Nextwave Multimedia from 52.38 per cent to 71.88 per cent

Nazara Technologies Reports Rs 1,091.0 Crore In Revenue, Eyes To Increase Stake In Nextwave MultimediaTe
Nitish Mittersain, Founder, CEO and Jt MD of Nazara Technologies
POSTED ON May 10, 2023 1:27 PM

Nazara Technologies Limited, a gaming and sports media platform announced its audited  results for the quarter and full year ended 31st March 2023.

In its statement, the company has claimed to bag Rs 1000 crore in revenues and Rs 100 crore in EBITDA. It witnessed a 75 per cent jump in revenue and a 16 per cent growth in EBITDA in financial year (FY) 2023. Nearly 28 per cent of its entire revenue came from gaming, 78 per cent came from eSports and 53 per cent from adtech. The company also saw a jump in its PAT (profit after tax) to Rs 61.4 crore in FY23 against 50.7 crore in FY22. 

In the fourth quarter (FY23), it  bagged Rs 2,893 crore, witnessing a 65 per cent jump from Rs 175.1 crore from the corresponding quarter in FY22. EBITDA also increased by 86 per cent and PAT also surged by 92 per cent in the same period. 

The company is also planning to increase its stake in Nextwave Multimedia from 52.38 per cent to 71.88 per cent. 

Commenting on the FY23 performance, Nitish Mittersain, Founder, CEO and Jt MD of Nazara Technologies, said, “We are delighted to report another milestone year for Nazara. Our strong performance in FY23 with revenues surpassing the Rs 1,000 crore mark at INR 1,091.0 crores and EBITDA surpassing the Rs 100 crores mark at Rs 109.7 crore is a testament to the hard work and dedication of our team, as well as our strategic investments in high-growth segments. We believe India is well on its way to becoming the Gaming Nation of the world in the years to come and we will continue to play a pivotal role in this journey.” 
 

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