Nazara Tech delivers record 104% yoy revenue growth in Q2FY23

21 Oct 2022 , 09:17 AM

Nazara Technologies Limited has announced its un-audited Standalone and Consolidated results for the quarter and half year ended September 30, 2022.

The company delivered strong growth driven by its esports, freemium and adtech business verticals in Q2FY23. Following the strong H1FY23 performance, the company has revised the guidance upwards for FY23 and expects consolidated revenues to grow in the range of 70-75% YoY with EBITDA margin above 10%.

Key Consolidated Financial Highlights for Q2FY23 are as follows:

• Revenue increased by 104% to Rs263.8 crore as against Rs129.6 crore in Q2FY22
• EBITDA stood at Rs21.3 crore as against Rs19.5 crore in Q2FY22
• Delivered a PAT of Rs16.9 crore as against Rs15.3 crore in Q2FY22

Key Consolidated Financial Highlights for H1FY23 are as follows:

• Revenue increased by 87% to Rs486.9 crore as against Rs260.8 crore in H1FY22
• EBITDA stood at Rs51.4 crore as against Rs49.6 crore in H1FY22
• Delivered a PAT of Rs33.4 crore as against Rs28.8 crore in H1FY22, growth of 16%
• Consolidated Cash Balance (inclusive of Liquid Investments and Bank deposits) of Rs650.7 crore in Sep’22 as against Rs732.6 crore in Mar’22
• Cash flow from operations of Rs17.3 crore, while cash used for acquisitions of Rs113.6 crore in H1FY23

Commenting on the H1FY23 performance, Nitish Mittersain, Founder & Jt MD of Nazara Technologies stated, “We are happy to report an accelerated growth of 104% YoY growth for Q2FY23 & 87% YoY in revenues for H1FY23.

Our approach to capture opportunities across business segments has continued to deliver high revenue growth in successive quarters. We have many growth opportunities ahead of us and will continue to make investments to accelerate revenues and achieve market leadership in each segment we operate in.”

At around 9:17 AM, Nazara Technologies was trading at Rs673.10 per share lower by 2.20% on the BSE.

For feedback and suggestions, write to us at [e-mail]