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Nazara Technologies, backed by Rakesh Jhunjhunwala, recorded a profit of 13.6cr in the first quarter.

Friday gaming company Nazara Technologies posted a net profit of Rs 13.6 in the June 2021 quarter. Nazara Technologies reported a loss of Rs 2.17 billion between April and June 2020, the regulatory filing stated.

Revenues from April to June 2021 increased 45% to Rs 131.2, up Rs 90.5 in the year-ago quarter. Revenues in the esports segment doubled to Rs. 5.32 billion, while revenues in the gamed early learning segment increased by about 46% in the June 2021 quarter from the same period last year to Rs. 5.21 billion. rice field.

Revenues from reported quarterly freemium, telco subscriptions and real money games were Rs 580 million, Rs 1.79 billion and Rs 220 million, respectively.

“The first quarter of 2010 was revenue growth, and the increase in EBITDA margins in particular demonstrates the intrinsic strength and profitability of the underlying business across all three growth segments,” the company said. increase.

“However, we prioritize strategic growth over margin optimization and ensure that we continue to demonstrate and maintain leadership in the segments in which we do business,” said Mannish Agarwal, CEO of Nazara Technologies Group. I will. “

EBITDA represents interest, taxes, depreciation and profit before depreciation.

He added that Nazara continues to see the strong interest of consumers and partners across each segment. According to him, key performance indicators for business across the segment will continue to be healthy this quarter, further helping to strengthen the company’s leadership position across esports.

“The recent acquisition of a majority stake in Publishme further expands its presence in the MENA (Middle East and North Africa) region. The acquisition crosses key growth segments of freemium, gaming learning and esports. Focus on building local execution capabilities, “Agarwal said.

In June, Nazara announced that it would acquire a 69.82% stake in Publishme, the largest mobile game publishing agency in the Middle East and Turkey, for around Rs 20.

According to another Friday filing by the company, its wholly owned subsidiary, Nazara Technologies FZ LLC (Dubai), has established “Publishme Global FZ-LLC” as a wholly owned subsidiary of Dubai Media City. As a result of the above establishment, Publishme Global FZ-LLC became a wholly owned subsidiary of the company.

The entity was founded to carry out activities such as digital content creation, games and esports, media and marketing services, media and marketing consulting, and news media.

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Nazara Technologies, backed by Rakesh Jhunjhunwala, recorded a profit of 13.6cr in the first quarter.

Source link Nazara Technologies, backed by Rakesh Jhunjhunwala, recorded a profit of 13.6cr in the first quarter.

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