Nazara Technologies Financial Results Q4 FY 2022-23

Key insights

5 takeaways

01
Consolidated revenue from operations for FY 2022-23 was 10,910 million rupees, up from 6,217 million in FY 2021-22.See it on page 7
02
Consolidated profit for the year ended March 31, 2023 was 614 million rupees, compared with 507 million in the prior year.See it on page 7
03
Consolidated total assets were 17,018 million rupees as at March 31, 2023, compared with 14,098 million as at March 31, 2022.See it on page 9
04
The standalone entity reported a loss after tax of 240 million rupees for the year ended March 31, 2023, compared with 338 million in the prior year.See it on page 17
05
The auditor's report on the consolidated results covers a group that includes 35 entities listed in Annexure 1, and the auditor issued an unmodified opinion on the annual results.See it on page 6

Summary

Nazara Technologies Limited, an Indian listed company (BSE scrip 543280, NSE symbol NAZARA), published its audited consolidated and standalone financial results for the quarter and financial year ended March 31, 2023, approved by its Board on May 9, 2023. The filing includes the auditor Walker Chandiok & Co LLP's reports, which give unmodified opinions, with the consolidated results including 35 entities listed in Annexure 1, including subsidiaries, associates and one joint venture. Thirteen subsidiaries were audited by other auditors, and five subsidiaries were unaudited.

For the consolidated group, revenue from operations for the year ended March 31, 2023 was 10,910 million rupees, compared with 6,217 million in the prior year. Total income was 11,405 million, and profit for the year was 614 million, versus 507 million the year before. Total assets stood at 17,018 million as at March 31, 2023, up from 14,098 million a year earlier.

At the standalone level, the company reported a loss after tax of 240 million rupees for the year, compared with a loss of 338 million in the prior year, with revenue from operations of 230 million. Standalone total assets were 9,260 million as at March 31, 2023.

The filing also notes that the Halaplay and Openplay boards approved a scheme of arrangement on September 30, 2022, providing for the demerger of Halaplay's Fantasy Sport Business into Openplay, subject to regulatory approvals.