The EBITDA margins increased to 23% in Q1FY22 in comparison to 15% for the first quarter of the financial year 2021
Nazara Technologies an India-based, diversified gaming and sports media platform with a presence in India and across emerging and developed global markets such as Africa and North America, announced its un-audited standalone and consolidated results for the quarter ended 30 June 2021.
As of June 30, 2021, Nazara has diverse business segments with revenue generation happening across gamified learning, Esports, freemium, and telco subscriptions.
Key Consolidated Financial Highlights for the financial year 2021 are as follows:
- Operating Revenues grew by 45% YoY to Rs. 1,312 million
- EBITDA* stood at to Rs. 301 million vs a loss of Rs. 134 million Q1FY21
- EBITDA* margins stood at 23% v/s -15% for Q1FY21
- Delivered a PAT of Rs. 135 million vs a loss of Rs. 217 million in Q1FY21; PAT margin of 10%
- The high growth segments of Gamified Early Learnings, eSports and Freemium have grown by 46%, 100% and 35% YoY to Rs. 521 million, Rs. 532 million and Rs. 58 million respectively.
Commenting on the performance Manish Agarwal, Group CEO, said “The Q1 FY22 results revenue growth and especially enhanced ebitda margins demonstrate intrinsic strength & profitability of the underlying businesses across all of three growth segments. However, we will continue to prioritize strategic growth over margin optimization to ensure that we continue to achieve and maintain leadership in segments we operate. Nazara continues to see strong consumer and partner interest across each of our segments and business KPIs across segments continue to remain healthy in this quarter which will further help in reinforcing leadership position of the Company across esports, gamified learning and cricket simulation mobile game.”
The recent acquisition of a majority stake in Publishme will further amplify our presence in MENA region. The acquisition will focus to build local execution capabilities cutting across key growth segments of freemium, gamified learning and esports.”