Nazara Technologies on Friday reported Rs 185.8 crore revenue for the third quarter of financial year 2022 (FY22), up 42% as opposed to Rs 130.4 crore it clocked in the same quarter last year. The company’s EBITDA came in at Rs 30.2 crore as compared to Rs. 27.3 crore in the same quarter of the previous year. However, the company reported a 17% year-on-year decline in profit after tax (PAT) to Rs 14.8 crore for the quarter.
“Nazara’s strategy of having a diversified portfolio across business segments in gaming continues to provide us with a stable and strong platform on which we can continue to build future growth and success. Nazara continues to remain committed to building multiple growth levers across gamified learning, freemium, esports and skill-based real money gaming via growth in its current portfolio and the addition of more offerings in the ‘Friends of Nazara’ network through strategic M&A,” Manish Agarwal, group CEO, Nazara Technologies, said.
Esports segment’s revenue grew by 89% on a year-on-year basis in Q3 to Rs 109.3 crore. Moreover, the segment delivered an EBITDA of Rs 24.2 crore. As per an official statement by Nazara Technologies, esports has witnessed a 70% revenue compound annual growth rate (CAGR) over the past three years. This segment now contributes the highest revenue in Nazara portfolio, the statement added.
Among other segments, real money gaming saw a sharp increase of 95% in revenue compared to the same quarter last year. It reported Rs 10.7 crore revenue in Q3 as against Rs 5.5 crore in Q3FY21. In addition, the segment also delivered break even EBITDA in Q3 as against losses in previous quarters. On the other hand, freemium segment posted an eight percent year-on-year decline in revenue to Rs 5.7 crore for Q3 and telco subscription recorded a 10% year-on-year decline in revenue to 12.9 crore for the quarter. Meanwhile, gamified learning segment saw a marginal rise of a percent to Rs 47.2 crore.
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