Nazara Technologies Q3 Net Profit Soars 46.7% to ₹29.52 Crore, Led by Esports Growth

7 Feb 2024 , 11:43 AM

Nazara Technologies reported a Q3 2023 net profit of ₹29.52 crore, up 46.7% YoY. Revenue from operations reached ₹320.4 crore, showing a 2% YoY growth.

Esports vertical drove growth, compensating for lower profits in gaming and adtech segments. EBITDA increased by 24% YoY to ₹37.7 crore in Q3, compared to ₹30.5 crore in Q3-FY23. 

Dhaval Sheth appointed as Head – Strategic Initiatives (Founder’s office). Operates in gaming (World Cricket Championship, Kiddopia, Animal Jam, Classic Rummy), esports (Nodwin Gaming, Sportskeeda), and advertising (Datawrkz).

Raised  ₹250 crore in Q3, completing FY24 fundraising goal of ₹760 crore. Includes investment from Zerodha co-founder Nikhil Kamath, Plutus Wealth, and ICICI Prudential Mutual Fund.

Nazara Publishing is set to launch five games from Indian studios and plans to release up to 20 games across various platforms in the next 12-18 months. Aims to invest between ₹1 crore and ₹ 3 crore per game.

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