Nazara Technologies Financial Results Q2 FY 2022-23

Key insights

6 takeaways

01
Consolidated revenue from operations for the quarter ended 30 September 2022 was 2,638 million, up from 1,296 million in the same quarter of the prior year.See it on page 4
02
In the segment table, eSports revenue for the quarter ended 30 September 2022 was 1,366 million.See it on page 5
03
Consolidated total assets were 16,674 million at 30 September 2022, compared with 14,098 million at 31 March 2022.See it on page 6
04
The standalone statement reports a loss before tax of 123 million for the quarter ended 30 September 2022, compared with a loss of 102 million in the same quarter of the prior year.See it on page 11
05
The auditor did not review the interim financial information of eleven subsidiaries, which reflected total assets of 5,225 million at 30 September 2022.See it on page 2
06
The Halaplay and Openplay boards approved a scheme under which the Fantasy Sport Business of Halaplay would be demerged into Openplay, subject to customary approvals.See it on page 14

Summary

This is the independent auditor's review report and unaudited financial results of Nazara Technologies Limited and its subsidiaries, associates and joint venture, prepared under Indian Accounting Standard 34 and Regulation 33 of the SEBI Listing Regulations. The review covers the quarter ended 30 September 2022 and the six-month period from 1 April 2022 to 30 September 2022, and the auditor performed a limited review rather than an audit. Walker Chandiok & Co LLP reports that eleven subsidiaries were reviewed by other auditors, and seven subsidiaries, two associates and one joint venture were unreviewed. The consolidated statements show revenue from operations of 2,638 million for the quarter ended 30 September 2022, against 2,231 million for the quarter ended 30 June 2022 and 1,296 million for the quarter ended 30 September 2021. Consolidated profit for the period was 174 million for the quarter, and total assets stood at 16,674 million at 30 September 2022. Standalone results show a loss before tax of 123 million for the quarter, with a half-year standalone loss before tax of 122 million.