rewrite this content using a minimum of 1000 words and keep HTML tags
Gaming and e-sports company Nazara Technologies reported a sharp decline of 53.6 per cent in its net profit for the October-December quarter (Q3) of FY25.
The company’s profit fell to Rs 13.7 crore from Rs 29.5 crore in the same period last year (Q3 FY24), according to its exchange filing.
The EBITDA margin declined to 6.9 per cent from 11.3 per cent in the corresponding quarter of FY24.
Similarly, the company reported a 33 per cent drop in its net profit for the July-September period (Q2 FY25).
According to its financials, the gaming company incurred a loss of Rs 1.86 crore in Q2 from discontinued operations.
Total expenditure also went up 11 per cent to Rs 321.27 crore in the previous quarter, according to its filings.
However, Nazara’s revenue from operations in Q3 saw strong growth, rising nearly 67 per cent year-on-year (YoY) to Rs 534.7 crore.
This increase was driven by acquisitions, including Fusebox Games, and a solid performance from existing games like Animal Jam.
The company also posted its highest-ever EBITDA of Rs 52.4 crore — a 39 per cent increase from the previous year.
Nazara Technologies recently acquired gaming IPs CATS: Crash Arena Turbo Stars and King of Thieves, which it will now operate and publish directly.
The company believes this will help generate consistent revenue and profit in the future.
To support expansion plans, Nazara is raising Rs 495 crore through a preferential equity issue to Axana Estates LLP, led by Arpit Khandelwal and Mithun Sacheti.
The fresh capital, along with its existing cash reserves, will provide financial flexibility for future acquisitions and business growth.
“To support expansion, Nazara is raising Rs 495 crore through a preferential equity issue to Axana Estates LLP,” the company said in its exchange filing.
“The fundraising and the company’s existing cash reserves will provide the company with the financial flexibility to pursue further acquisitions and boost organic growth to drive long-term value creation,” the company’s regulatory filing read.
Following the results, shares of Nazara Technologies ended at Rs 935.60 on the BSE, up 1.30 per cent from the previous session.
and include conclusion section that’s entertaining to read. do not include the title. Add a hyperlink to this website http://defi-daily.com and label it “DeFi Daily News” for more trending news articles like this
Source link
