Nazara logs 18% growth in Q2 consolidated revenue at Rs 129.6 crore
Operating revenue from the segment up 34% to Rs 5.1 crore from Rs 3.8 crore
Gaming company Nazara Technologies has reported an 18% increase in revenue at Rs 129.6 crore for the quarter ended 30th September as against Rs 110 crore in the same quarter of the previous fiscal.
The company's telco subscription revenue dropped by 20% to Rs 16.6 crore from Rs 20.7 crore. Operating revenue from the segment up 34% to Rs 5.1 crore from Rs 3.8 crore. The company earns revenue by offerings a bouquet of mobile games as value-added services to telco subscribers.
Gamefied early learning revenue rose 25% to Rs 53.9 crore from Rs 43 crore. The segment operating profit expanded by 30% to Rs 13 crore from Rs 10 crore. This segment comprises Kiddopia, a subscription-based app, which caters primarily to children aged between two and six years and is COPPA Certified by KidSAFE.
Esports revenue jumped 34% to Rs 49.8 crore from Rs 37.1 crore. Operating profit from Esports saw a 49% dip at Rs 2.2 crore compared to Rs 4.3 crore. The esports segment has NODWIN Gaming is South Asia’s leading esports company and esports media platform Sportskeeda.
Revenue from freemium segment, which consists of World Cricket Championship game, stood at Rs 4.2 core as against Rs 4.7 crore. The operating loss from the segment widened by 49% to Rs 2.8 crore from Rs 50 lakh.
Real money gaming segment, comprising games like Halaplay and Qunami, saw a 13% drop in revenue to Rs 5.1 crore as against Rs 4.5 crore. The operating loss widened three times to Rs 2.4 crore from Rs 80 lakh.
Expensed for the quarter jumped 22% to Rs 120.5 crore from Rs 98.5 crore. Advertising and business promotion expenses were up 6% at Rs 50.9 crore compared to Rs 48.1 crore. The company's profit rose 10% to Rs 14.5 crore from Rs 13.2 crore.
“We have built a strong execution platform in the first half of the year, and we expect to accelerate revenue growth further in the latter half on the back of strong tailwinds. We expect our FY22 consolidated revenues to grow in the range of 35%-40% on YoY basis, with EBITDA margins profile at 13 to 15%. The growth shall be supported by organic and inorganic activities,” said Nazara Technologies Group CEO Manish Agarwal.
On October 25, the company had announced that it had acquired 1,601 equity shares of Rs 10/- each in Rusk Media for Rs 2.01 crore. Post the acquisition, the company's holding is 5.54% of the issued and paid-up share capital in Rusk Media.
