India : the Board of Directors of Nazara Technologies Limited at its meeting held today i.e. Tuesday, February 06, 2024 considered and approved The Unaudited Financial Results (Consolidated and Standalone) of the Company for the quarter and nine months ended December 31, 2023
STATEMENT OF CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED DECEMBER 31 , 2023
| All Numbers are in Rs Lakhs except EPS | Quarter Ended 31.12.2023 | Quarter Ended 30.09.2023 | Quarter Ended 31.12.2022 |
|---|---|---|---|
| Total Income | 33,830 | 30,954 | 32,634 |
| Total Expenses | 30,131 | 28,830 | 30,023 |
| Profit/ (loss) before tax | 3,699 | 2,124 | 2,611 |
| Net Profit after tax | 2,904 | 2,250 | 2,012 |
| EPS( Basic ) | 3.47 | 2.74 | 2.49 |
Nazara Technologies Q3 & 9Months Ended Dec 2023 Financial Highlights :
- Attained the highest-ever quarterly revenue and EBITDA, amounting to INR 320.4 crores and INR 37.7 crores, respectively.
- Revenue demonstrated a 2% growth, reaching INR 320.4 Cr compared to INR 314.8 Cr in Q3FY23.
- EBITDA surged by 24% to INR 37.7 Cr from INR 30.5 Cr in Q3FY23.
- EBITDA margin exhibited a robust increase of 210 basis points to 11.8% in Q3FY24, up from 9.7% in Q3FY23.
- Profit after tax (PAT) experienced a substantial growth of 47% to INR 29.5 Cr, surpassing INR 20.1 Cr in Q3FY23.
- Revenue witnessed a 9% growth, reaching INR 872.1 Cr compared to INR 801.7 Cr in the first nine months of the fiscal year 2023 (9MFY23).
- EBITDA surged by 20% to INR 98.7 Cr from INR 81.9 Cr in 9MFY23.
- EBITDA margin exhibited an increase of 110 basis points to 11.3% in 9MFY24, up from 10.2% in 9MFY23.
- Profit after tax (PAT) experienced a substantial growth of 44% to INR 74.6 Cr, surpassing INR 51.8 Cr in 9MFY23.
- Proforma Cash Balance stands at approximately INR 1,500 Cr, inclusive of recent fundraise.
– Commenting on the performance of Q3 and the first nine months of the fiscal year 2024 (9MFY24), Nitish Mittersain, the Founder, CEO, and Joint Managing Director of Nazara Technologies, expressed satisfaction. He highlighted the healthy growth in Animal Jam and Sportskeeda, which contributed to a remarkable 24% year-on-year increase in EBITDA and a rise in EBITDA margin from 9.7% in Q3FY23 to 11.8% in Q3FY24. Notably, the esports segment witnessed an impressive 79% growth in EBITDA.
– Mittersain emphasized their strategy of acquiring global gaming IPs and leveraging focused user acquisition alongside data-driven product innovation, citing Animal Jam’s performance in Q3 as evidence of its success. He expressed optimism that this strategy will pave the way for substantial scale-up opportunities in the future.
– Furthermore, Mittersain announced the completion of their fundraising goal for FY24, securing INR 760 crores through a preferential placement to marquee investors. With significant cash reserves, the company is well-positioned to pursue exciting acquisition opportunities aimed at strategic expansion in the coming quarters.
– Mittersain also highlighted the successful launch of games by the Nazara Publishing division, with more releases planned soon. Additionally, he mentioned their participation in GDC San Francisco in March, where Nazara will lead the Indian delegation and co-host the first-ever “India pavilion,” marking a significant milestone for the company and the Indian gaming community.