Nazara Technologies delivers 80% YoY revenue growth and 22% PAT growth in 9MFY23 on back of sustained momentum in the business

27 January 2023 Clara Devon Corporate 0

Q3FY23 Revenues up 69% YoY and PAT up 31% YoY

 

Nazara Technologies Limited (BSE: 543280) (NSE: NAZARA) a diversified gaming and sports media platform announced its un-audited Standalone and Consolidated results for the quarter and Nine Months ended 31st December 2022.

 

The company delivered strong growth powered by growth across all major segments.

 

Key Consolidated Financial Highlights for 9MFY23 are as follows:

 

ü  Revenue grew by 80% to Rs. 8,017 Mn (Rs. 801.7 Cr) as against Rs. 4,466 Mn (Rs. 446.6 Cr) in 9MFY22

ü  EBITDA stood at Rs. 820 Mn (Rs. 82.0 Cr) as against Rs. 797 Mn (Rs. 79.7 Cr) in 9MFY22

ü  PAT of Rs. 558 Mn (Rs. 55.8 Cr) as against Rs. 459 Mn (Rs. 45.9 Cr) in 9MFY22, growth of 22%

 

Key Consolidated Financial Highlights for Q3FY23 are as follows:

 

ü  Revenue rose by 69% to Rs. 3,148 Mn (Rs. 314.8 Cr) as against Rs. 1,858 Mn (Rs. 185.8 Cr) in Q3FY22

ü  EBITDA stood at Rs. 306 Mn (Rs. 30.6 Cr) as against Rs. 303 Mn (Rs. 30.3 Cr) in Q3FY22

ü  PAT of Rs. 224 Mn (Rs. 22.4 Cr) as against Rs. 171 Mn (Rs. 17.1 Cr) in Q3FY22

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Consolidated Revenue Mix across business segments stood as follows:


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Commenting on the 9MFY23 performance, Nitish Mittersain, Founder, CEO & Jt MD of Nazara Technologies stated:

“The business continues to scale profitably as has been our stated goal to deliver long term compounding across our five key business verticals. Our diversified business across multiple geographies allows us to have various levers of growth and mitigate industry headwinds affecting any one segment.  

I am happy to note that we have grown 80% YoY in the first 9 months of FY23 backed by profitability and positive cash flows. This performance helps set a strong foundation for our future growth plans.

Particularly in this quarter, it is heartening to see our flagship product for young children “Kiddopia” come back onto a growth path as well as our recent acquisition Datawrkz deliver strong organic growth of around 55% YoY.

I look forward to the continued support of all our stakeholders as we continue to pursue our long standing commitment of Nazara playing a significant role in India’s journey towards becoming a global gaming powerhouse.”

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