Illustration: Ajay Mohanty
Gaming firm Nazara Technologies on Friday posted a net profit of Rs 13.6 crore for the June 2021 quarter.
The company had reported a loss of Rs 21.7 crore in the April-June 2020 period, Nazara Technologies said in a regulatory filing.
Its revenue during April-June 2021 jumped 45 per cent to Rs 131.2 crore, compared with Rs 90.5 crore in the year-ago period.
The e-sports segment's revenue doubled to Rs 53.2 crore, while that of Gamified early learning segment grew about 46 per cent to Rs 52.1 crore in the June 2021 quarter from the year-ago period.
Revenue from freemium, telco subscription and real money gaming stood at Rs 5.8 crore, Rs 17.9 crore and Rs 2.2 crore, respectively, in the reported quarter.
"The Q1 FY22 results revenue growth and especially enhanced Ebitda margins demonstrate intrinsic strength and profitability of the underlying businesses across all of three growth segments.
"However, we will continue to prioritise strategic growth over margin optimisation to ensure that we continue to achieve and maintain leadership in segments we operate," Nazara Technologies Group CEO Manish Agarwal said.
Ebitda stands for earnings before interest, tax, depreciation and amortisation.
He added that Nazara continues to see strong consumer and partner interest across each of the segments.
Business key performance indicators across segments continue to remain healthy in this quarter, which will further help in reinforcing leadership position of the company across e-sports, he said.
"The recent acquisition of a majority stake in Publishme will further amplify our presence in MENA (Middle East and North Africa) region. The acquisition will focus to build local execution capabilities cutting across key growth segments of freemium, gamified learning and e-sports," Agarwal said.
In June, Nazara had announced the acquisition of 69.82 percent stake in Publishme, the largest mobile game publishing agency in the Middle East and Turkey, for about Rs 20 crore.
A separate filing by the firm on Friday said Nazara Technologies FZLLC, a wholly owned subsidiary of the company (in Dubai), has incorporated 'Publishme Global FZ-LLC' as a wholly owned subsidiary in Dubai Media City.
Consequent to the said incorporation, Publishme Global FZ-LLC has become a step down wholly-owned subsidiary of the company, it added.
The entity has been incorporated for carrying out activities including digital content creation, gaming and e-sports, media and marketing services, media and marketing consultancy, and news media, it said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.