Nazara Technologies Financial Results Q3 FY 2022-23

Key insights

6 takeaways

01
Consolidated revenue from operations for the quarter ended December 31, 2022 was ₹3,148 million, up from ₹2,638 million in the quarter ended September 30, 2022.See it on page 5
02
Consolidated revenue from operations for the nine months ended December 31, 2022 was ₹8,017 million, compared with ₹4,466 million for the nine months ended December 31, 2021.See it on page 5
03
The eSports segment reported revenue of ₹1,525 million for the quarter ended December 31, 2022.See it on page 6
04
Consolidated profit attributable to equity shareholders of the company was ₹181 million for the quarter ended December 31, 2022 and ₹398 million for the nine months.See it on page 5
05
The company acquired an additional 12,323 equity shares of Absolute Sports Private Limited on November 15, 2022, for a total aggregate consideration amount of ₹200 million, increasing its stake from 75.28% to 81.90%.See it on page 11
06
Standalone revenue from operations was ₹58 million for the quarter ended December 31, 2022, and the standalone company reported a profit of ₹22 million for that quarter.See it on page 10

Summary

Nazara Technologies Limited, listed on BSE and NSE under scrip code 543280 and symbol NAZARA, reported unaudited consolidated and standalone financial results for the quarter and nine months ended December 31, 2022. The Board approved the results on January 24, 2023, and Walker Chandiok & Co LLP issued limited review reports on both statements. The consolidated statement covers the holding company, its subsidiaries, associates and a joint venture, listed in 32 entities. Segment reporting spans telco subscription, gamified early learning, freemium, eSports, real money gaming and ad tech.

On a consolidated basis, revenue from operations was ₹3,148 million for the quarter ended December 31, 2022, compared with ₹2,638 million for the quarter ended September 30, 2022 and ₹1,858 million for the quarter ended December 31, 2021. For the nine months ended December 31, 2022, revenue from operations was ₹8,017 million, against ₹4,466 million for the nine months ended December 31, 2021. Consolidated profit for the period attributable to equity shareholders of the company was ₹181 million for the quarter and ₹398 million for the nine months.

The standalone company reported revenue from operations of ₹58 million for the quarter ended December 31, 2022, and a profit of ₹22 million for that quarter. For the nine months, standalone revenue from operations was ₹166 million, with a loss of ₹(120) million.