Nazara, an India based gaming and sports media company announced that its operating revenues have increased 84 percent YoY to Rs 454.2 crore. The main driver behind this revenue is Nazara's verticals Gamified Early Learnings and eSports which grew by 819% YoY and 102% YoY to Rs. 175.8 crore and Rs. 170.1 crore, respectively. Manish Agarwal, Group CEO of Nazara that they recorded a Rs 478.4 crore cash reserve including liquid investments, apart from zero debt on its balance sheet. However, it's worth mentioning that the company’s overall revenues declined by 5% sequentially, due to seasonal reasons. For instance, Nodwin Gaming, (which is included in Nazara's ESports vertical) does not plan big events for the last quarter as 14–21 year-olds have exams during this time. Key financial highlights for the financial year 2021 Operating revenues grew by 84% YoY to Rs. 454.2 crore Earnings before interest, taxes, depreciation and amortization (EBITDA) grew by 508% YoY to Rs. 59.6 crore EBITDA margins improved from 3.7% in FY20 to 12.7% in FY21 Delivered a profit after tax (PAT) of Rs 13.6 crore in FY21 Recorded a positive net cash flow from operations of Rs. 67.4 crore in FY21 Revenue contribution in FY21 according to business segments Agarwal, said, “As we operate in the high growth business segments of Gamified early learning, eSports and Freemium, we will continue to prioritize growth over profit maximization, so that we can achieve and maintain market leadership in segments we operate in." Key takeaways eSports to be…
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
News
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
Advert
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
News
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
News
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...