Nazara Technologies Q1 PAT up 22% YoY

30 Jul 2022 , 03:50 PM

Profit before tax increased 7.6% to Rs 22.70 crore in Q1 FY23 from Rs 21.10 crore posted in Q1 FY22. Total expenses surged 80.8% year on year to Rs 207 crore in the quarter ended 30 June 2022. Advertising and business promotion expense soared 53.3% to Rs 65 crore and employee benefits expense jumped 95.9% to Rs 28.4 crore in Q1 FY23 over Q1 FY22. Consolidated EBITDA stood unchanged at Rs 30.1 crore in Q1 FY23 over Q1 FY22. EBITDA margin deteriorated to 13.5% during the quarter as compared to 22.9% during Q1 FY22. Commenting on the Q1 performance, Manish Agarwal, chief executive officer CEO at Nazara Technologies said, ?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. The overall revenue for Q1 FY23 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.? Mumbai-based Nazara Technologies is one of the leading mobile games companies. It is Indias leading diversified gaming and sports media platform with a presence across emerging and developed global markets such as Africa and North America, with offerings across the interactive gaming, eSports, and gamified early learning ecosystems. Shares of Nazara Technologies rose 1.62% to end at Rs 530.15 on Friday. Powered by Capital Market – Live News