Nazara Technologies Financial Results Q1 FY 2024-25

Key insights

6 takeaways

01
Consolidated revenue from operations for the quarter ended June 30, 2024 was ₹25,008 lakh, compared with ₹26,621 lakh for the quarter ended March 31, 2024.See it on page 6
02
Consolidated profit from continuing operations was ₹2,362 lakh for the quarter ended June 30, 2024, compared with ₹1,705 lakh in the quarter ended March 31, 2024.See it on page 6
03
Within consolidated segment revenue, eSports contributed ₹13,187 lakh in the quarter ended June 30, 2024, against ₹9,281 lakh for gaming and ₹2,567 lakh for adtech.See it on page 7
04
Standalone revenue from operations for the quarter ended June 30, 2024 was ₹799 lakh, and standalone profit for the period was ₹963 lakh.See it on page 11
05
The company agreed on July 19, 2024 to purchase the remaining 48.42% of PaperBoat Apps for a total cash consideration of ₹30,000 lakh, payable in three tranches within six months.See it on page 8
06
Nodwin Singapore acquired 100% of Ninja Global FZ Co on June 7, 2024 for a total purchase consideration equivalent to ₹2,980 lakh.See it on page 8

Summary

This is the Nazara Technologies Limited filing dated August 13, 2024, covering unaudited consolidated and standalone financial results for the quarter ended June 30, 2024, together with Walker Chandiok & Co LLP's limited review reports. The filing also records board decisions on a new non-executive director, a Company Secretary resignation with an interim Compliance Officer appointment, and a list of authorised KMP. The consolidated group covers 34 entities including subsidiaries, associates and a joint venture, and the results were approved at the board meeting held on August 13, 2024.

On a consolidated basis, revenue from operations for the quarter ended June 30, 2024 was ₹25,008 lakh, compared with ₹26,621 lakh for the quarter ended March 31, 2024 and ₹25,443 lakh for the quarter ended June 30, 2023. Profit from continuing operations was ₹2,362 lakh, against ₹1,705 lakh in the March 2024 quarter and ₹2,086 lakh in the June 2023 quarter. Segment revenue for the quarter ended June 30, 2024 was ₹9,281 lakh for gaming, ₹13,187 lakh for eSports and ₹2,567 lakh for adtech.

Standalone revenue from operations for the quarter was ₹799 lakh, and standalone profit for the period was ₹963 lakh. The filing also notes several events, including the acquisition of Ninja Global FZCO for a total consideration of ₹2,980 lakh, and a July 19, 2024 agreement to buy the remaining 48.42% of PaperBoat Apps for ₹30,000 lakh in cash across three tranches. Consolidated earnings per share for continuing operations on a basic basis were ₹2.96 for the quarter.