Nazara Technologies Q3 Profit Down 54%, Revenue Up 67%

New Delhi, Feb 13 (PTI) Gaming and e-sports platform Nazara Technologies has reported a 53.6 per cent decline to Rs 13.68 crore in consolidated net profit for the October-December quarter of FY25.

It had posted a profit of Rs 29.52 crore in the year-ago period, according to a regulatory filing.

Revenue from operations for Q3 FY25 was Rs 534.7 crore, a 66.8 per cent climb, from Rs 320.4 crore in Q3 FY24.

Sequentially, profit fell 15.7 per cent, while revenue rose 67.6 per cent.

Nazara's core gaming segment revenues grew by 53 per cent, driven by acquisitions including Fusebox Games as well as strong performance by existing games such as Animal Jam, a company statement said.

"The recent licensing agreements and upcoming integrations of popular entertainment IPs are further set to enhance user growth and engagement going forward. Kiddopia's collaboration with Mattel's Barbie and Moonbug's Little Angel will strengthen engagement among young audiences, while partnerships with well-known franchises including Big Brother and Bigg Boss will enable the gaming vertical to scale," it said.

To support expansion, Nazara is raising Rs 495 crore through a preferential equity issue to Axana Estates LLP, the statement informed.

The fundraising, along with the company's existing cash reserves will provide the company with the financial flexibility to pursue further acquisitions as well as boost organic growth to drive long-term value creation, it said.

Nazara holds ownership of NODWIN Gaming and Sportskeeda/Pro Football Network. It also holds a stake in PokerBaazi.

Shares of Nazara Technologies settled at Rs 929.15 apiece on the BSE on Thursday, 0.61 per cent higher than the previous close.