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Nazara Technologies Q1,FY23 revenue grows by 70%

The multi-pronged approach to capture opportunities have been yielding positive traction and we are in line with our target growth plans for FY23, Manish Agarwal, CEO, Nazara Technologies, said.

As per the company, EBITDA margins stood at 13.5% versus 22.9% for Q1,FY22
As per the company, EBITDA margins stood at 13.5% versus 22.9% for Q1,FY22

Nazara Technologies Limited announced its un-audited standalone and consolidated results for the quarter ended June 30, 2022. The company’s revenue increased by 70% to Rs 2,231 million as against Rs 1,312 million in Q1,FY22 and a growth of 27% QoQ. EBITDA stood at Rs 301 million as against Rs 301 million in Q1,FY22, and growth of 102% QoQ as the company invested in growth initiatives across its key segments.

“We are happy to report an all-round growth. The multi-pronged approach to capture opportunities have been yielding positive traction and we are in line with our target growth plans for FY23. The traction across businesses; E-sports and Real Money Gaming witnessed strong growth while addition of new growth engine in form of Datawrkz has augmented well for the business. We have also seen stabilisation of unit economics for our Gamified Early Learning business,” Manish Agarwal, CEO, Nazara Technologies, said. 

As per the company, EBITDA margins stood at 13.5% versus 22.9% for Q1,FY22 and 8.5% for Q4,FY22. It delivered a PAT of Rs 165 million, growth of 22% YoY and 237% QoQ. 

“The overall revenue for Q1FY23 as against the previous year saw a healthy growth of 70%, leading to a PAT growth of 22% year on year. On the operating margin front, we have made investments in our business segments that will provide us with robust growth opportunities in the years to come. The company will continue to look for growth opportunities both organically and inorganically. In particular, we are looking to augment presence in Freemium segment especially in developed markets,” Agarwal stated. 

(EBITDA excludes other income). 

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