Nazara net profit up 13% to Rs 24 crore in Q1, revenue dips
Nazara Technologies reported a 13% increase in net profit to Rs 23.6 crore for the first quarter of fiscal year 2025, even as its quarterly revenue dipped slightly.
The firm’s operating revenue fell 1.7% to Rs 250 crore on a year-on-year basis for the quarter ended June 30, 2024.
About 44% of the firm’s revenue for the quarter came from the North American market and 33% from India, while the rest of the world contributed 23%.
Nazara’s overall revenue was impacted by a 15% drop in revenue to Rs 93 crore from its gaming vertical, which houses properties like edtech products Kiddopia and Animal Farm, and its real money gaming (RMG) unit. The division’s profit also more than halved to Rs 7 crore for the quarter, compared to Rs 18 crore a year ago.
The RMG unit’s revenue declined to Rs 5 crore in the first quarter, compared to Rs 12 crore a year ago. In July, Nazara said two of its RMG subsidiaries — Openplay Technologies and Halaplay Technologies — received show cause notices for a proposed GST liability of Rs 1,119 crore for the 2017 to 2023 period.
Kiddopia’s revenue fell 15% to Rs 49 crore for the first quarter as its subscriber base also declined. Animal Jam, however, saw revenue grow 7% to Rs 23 crore.
The esports vertical, which houses businesses like esports and media firm Nodwin and sports news firm Sportskeeda, reported a 12% year-on-year increase in revenue to Rs 132 crore. Nodwin's revenues grew 3% to Rs 71 crore for the quarter.
Sportskeeda was the best performing division for Nazara, registering a
