Nazara Technologies Financial Results Q3 FY 2023-24

Key insights

6 takeaways

01
Consolidated revenue from operations was 32,040 lakh in the quarter ended December 31, 2023, up from 29,724 lakh in the quarter ended September 30, 2023.See it on page 6
02
Consolidated revenue from operations for the nine months ended December 31, 2023 was 87,207 lakh, compared with 80,170 lakh for the nine months ended December 31, 2022.See it on page 6
03
Segment revenue in the quarter was 19,367 lakh for eSports, 10,146 lakh for Gaming and 2,610 lakh for Ad Tech.See it on page 7
04
Consolidated profit for the quarter ended December 31, 2023 was 2,952 lakh, compared with 2,012 lakh for the quarter ended December 31, 2022.See it on page 6
05
Standalone revenue from operations was 520 lakh in the quarter ended December 31, 2023, and standalone profit was 578 lakh.See it on page 11
06
The Board approved a preferential allotment of 2,866,474 equity shares for an aggregate consideration of 25,000 lakh, with the allotment to be made to seven named investors.See it on page 8

Summary

This is Nazara Technologies Limited's unaudited consolidated and standalone financial results for the quarter and nine months ended December 31, 2023, filed with BSE and NSE after a Board meeting held February 6, 2024. The filing includes Walker Chandiok & Co LLP's limited review reports, consolidated and standalone statements, segment information, and notes. It also covers the appointment of Mr. Dhaval Sheth as Head - Strategic Initiatives, effective February 19, 2024.

On a consolidated basis, revenue from operations was 32,040 lakh for the quarter ended December 31, 2023, compared with 29,724 lakh for the quarter ended September 30, 2023 and 31,483 lakh for the quarter ended December 31, 2022. For the nine months ended December 31, 2023, revenue from operations was 87,207 lakh, against 80,170 lakh in the prior-year nine months. Consolidated profit for the period was 2,952 lakh for the quarter and 7,456 lakh for the nine months.

Segment revenue for the quarter was 19,367 lakh for eSports, 10,146 lakh for Gaming and 2,610 lakh for Ad Tech. Consolidated capital employed stood at 202,915 lakh as of December 31, 2023. Standalone revenue from operations for the quarter was 520 lakh, and standalone profit was 578 lakh.

The notes also report subsequent events, including a preferential allotment of 2,866,474 equity shares for an aggregate consideration of 25,000 lakh, and an agreement to acquire 10.77% of Kofluence Tech Private Limited for a total consideration not exceeding 3,241 lakh.