Nazara Technologies sees Q2 profit decline 33% to Rs 16 crore

Nazara Technologies Q2 Results: Homegrown gaming and sports media institution Nazara Technologies reported 33 per cent driblet successful its nett net for the July-September play (Q2 FY25). The institution reported a consolidated nett net of Rs 16.24 crore successful Q2 FY25, from Rs 24.18 crore successful the aforesaid 4th past year.

On a sequential basis, its nett declined 31 per cent from Rs 23.62 crore, arsenic per Nazara's financials.

The company's operating gross grew 7 per cent to Rs 318.94 crore against Rs 297.24 crore successful the aforesaid 4th past year.

The gaming institution incurred a nonaccomplishment of Rs 1.86 crore from discontinued operations, arsenic against a nett of Rs 1.68 crore successful the year-ago quarter.

Total expenditure went up 11 per cent to Rs 321.27 crore, according to its financials.

In Q2 FY25, the institution raised Rs 900 crores via a preferential equity contented from a radical of investors arsenic good arsenic made a important concern successful starring skill-based gaming level Pokerbaazi, successful summation to expanding its involvement successful Absolute Sports (Sportskeeda) and acquiring a number involvement successful accelerated increasing esports community, Stan.

The institution besides announced that its Board of Directors has approved the merger of Paperboat Apps with Nazara.

“The merger of Paperboat Apps with Nazara is simply a pivotal measurement successful our ngo to pb the gamified aboriginal learning abstraction with Kiddopia having already made a important interaction successful this assemblage worldwide,” said Nitish Mittersain, Founder and Managing Director of Nazara Technologies.

“Further, this measurement is aligned towards america bringing halfway gaming concern into the genitor entity to supply for fungible currency flows that tin subsequently beryllium deployed for integrated and inorganic maturation going forward,” Mittersain added.