Nazara Q1 FY27 Results: Revenue at ₹429 Crore and EBITDA at ₹46 Crore, Fusebox Revenue Rises 12% to ₹82 Crore, Kiddopia Up 19% to ₹54 Crore and Animal Jam Up 11% to ₹29 Crore

Nazara Technologies reported consolidated revenue of ₹429 crore for the first quarter of FY27, while EBITDA stood at ₹46 crore with an EBITDA margin of 10.8%. The company also announced key leadership changes, appointing Raymond A. Stauffer as Chief Executive Officer effective September 1, 2026, subject to regulatory approvals, alongside accelerating its acquisition of Bluetile and BestPlay through a revised all-cash transaction valued at USD 303 million.

The company said its core gaming business continued to deliver growth despite the impact of the earlier deconsolidation of NODWIN Gaming. Excluding NODWIN, comparable consolidated revenue increased by approximately 9% year-on-year during the quarter.

Gaming business drives operational performance

Nazara’s gaming business remained the primary contributor to operating performance during the quarter. Gaming revenue increased 14% year-on-year to ₹275 crore, while segment EBITDA reached ₹54 crore with an EBITDA margin of 19.5%. The company said all gaming businesses remained EBITDA positive.

Among individual businesses, Fusebox reported revenue of ₹82 crore, up 12% year-on-year. Kiddopia generated revenue of ₹54 crore, registering 19% annual growth, supported by higher user acquisition investments and improving unit economics. Animal Jam revenue increased 11% year-on-year to ₹29 crore, while Curve Games continued to remain profitable as it invested in its upcoming game releases.

Nazara Q1 FY27 profitability

Nazara reported a loss after tax from continuing operations of ₹82 crore during the quarter. According to the company, this included ₹62 crore representing its share of losses from associates and ₹22 crore related to impairment charges.

Bluetile and BestPlay acquisition revised

Nazara announced amendments to its previously announced acquisition of Bluetile and BestPlay, under which it will acquire 100% ownership through a fixed all-cash consideration of USD 303 million.

Under the revised structure, USD 89 million will be paid at closing, while the remaining USD 214 million will be paid in agreed tranches by April 1, 2027.

The company stated that the revised transaction structure provides certainty regarding ownership and acquisition price, enables immediate operational integration and offers greater strategic flexibility following completion.

Bluetile and BestPlay together reported revenue of ₹518 crore and EBITDA of ₹55 crore during Q1 FY27. Subject to transaction completion, these businesses are expected to be consolidated into Nazara’s financial results from the second quarter of FY27.

Raymond A. Stauffer appointed CEO

Nazara’s Board has appointed Raymond A. Stauffer, Founder and CEO of Bluetile Games, as Chief Executive Officer of Nazara Technologies, effective September 1, 2026, subject to regulatory approvals.

The company said Stauffer will oversee day-to-day operations, integration initiatives, portfolio performance and shared capabilities across product development, artificial intelligence, user acquisition and monetisation.

Founder Nitish Mittersain will continue as Founder and Managing Director, focusing on long-term strategy, portfolio direction and stakeholder relationships while working closely with the Board and the incoming CEO.

Outlook

Nazara stated that, subject to the completion of the Bluetile and BestPlay transaction, the company expects to operate at a materially larger scale from the second quarter of FY27.

The immediate priorities include integrating operating systems, expanding data-driven user acquisition, developing shared AI and analytics capabilities and identifying opportunities for collaboration across its gaming portfolio.