Nazara Technologies Financial Results Q4 FY 2023-24

Key insights

6 takeaways

01
Consolidated revenue from operations for FY 2023-24 was INR 113,828 lakh, up from INR 109,102 lakh in FY 2022-23.See it on page 3
02
Consolidated profit for the year was INR 7,475 lakh, compared with INR 6,138 lakh in the prior year.See it on page 3
03
Standalone impairment losses for the year were INR 11,571 lakh, and standalone loss after tax was INR 9,750 lakh.See it on page 14
04
The Board approved acquiring 28.12% of Next Wave Multimedia Private Limited for a total consideration not exceeding INR 21,63,46,875, in two tranches.See it on page 1
05
The company's Gaming segment reported full-year segment results of INR 2,258 lakh, compared with INR 3,375 lakh in FY 2022-23.See it on page 7
06
The auditor issued an unmodified opinion on both the consolidated and standalone annual financial results.See it on page 24

Summary

Nazara Technologies Limited, a listed Indian company (BSE scrip 543280, NSE symbol NAZARA), published its audited consolidated and standalone financial results for the quarter and financial year ended March 31, 2024, approved by its Board on May 24, 2024. The filing includes the statutory auditor's report from Walker Chandiok & Co LLP, which issued unmodified opinions, and covers the consolidated balance sheet, cash flows and segment data alongside standalone statements. Segment reporting covers Gaming, eSports and Ad tech.

For the year ended March 31, 2024, consolidated revenue from operations was INR 113,828 lakh, compared with INR 109,102 lakh in the prior year, and consolidated profit for the period was INR 7,475 lakh, compared with INR 6,138 lakh. For the year ended March 31, 2024, consolidated total income was INR 121,791 lakh, compared with INR 114,050 lakh in the prior year. Standalone revenue from operations for the year was INR 2,331 lakh, and the standalone loss after tax was INR 9,750 lakh, following impairment losses of INR 11,571 lakh.

The Board also approved a share purchase agreement dated May 24, 2024, to acquire the remaining 28.12% of Next Wave Multimedia Private Limited, a subsidiary, for a total consideration not exceeding INR 21,63,46,875, payable in two tranches. Nextwave's turnover for 2023-24 was INR 21.92 crore according to the filing.