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Nazara revenue up 37% YoY for FY22

The company has recorded a growth of 273% YoY in PAT

e4m by exchange4media Staff
Published: May 16, 2022 9:49 AM  | 2 min read
Nazara

Nazara Technologies Limited, a diversified gaming and sports media platform, has announced its audited Standalone and Consolidated results for the quarter and full year ended 31st March 2022.

As of March 31, 2022, Nazara has diverse business segments with revenue generation accruing across gamified learning, Esports, freemium and telco subscription.

While the company’s operating revenues grew by 37% YoY to Rs 621.7 crore, EBITDA stood at Rs 94.6 crore, a growth of 109% YoY.

Nazara also delivered a PAT of Rs 50.7 crore, growth of 273% YoY.

Commenting on the performance, Manish Agarwal, CEO at Nazara Technologies said, “On behalf of Nazara Group, I am glad to report that we have surpassed our revenue and EBITDA guidance for FY22, despite the headwinds caused by change in Apple policies & regulatory environment in real money gaming in India and negative impact of COVID19 in esports segment.

In FY22, we generated revenues of Rs. 6,217 Mn, up 37% YoY, EBIDTA of Rs. 946 Mn, up 109 % YoY, and PAT of Rs. 507 Mn, up 273 % YoY. We are glad to report that all of the group's business sectors are profitable, have added significant cash balance in FY22.

Our strategy of diversifying portfolio across business categories continues to give us a solid & robust momentum to grow faster than the overall gaming & esports market in coming years.

The Company has cash on hand of Rs. 7,321 Mn as of 31st March 2022. Current cash balance combined with continuous operational cashflows at subsidiary level will keep driving inorganic growth both at Nazara and at subsidiaries.”

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