Nazara Technologies records an operating revenue surge of 84 % Y-O-Y

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Rakesh Jhunjhunwala backed Nazara Technologies Limited has revealed a consolidated profit of Rs 4.2 crore for the end of Q1 i.e 31 March 2021, compared to a loss of Rs 7.02 crore witnessed last year Q1.

As of 31March 2021, Nazara has various business segments and as per their records the revenue generation happening across gamified learning, esports, freemium, real money gaming and telco subscription.

As per the report here are the key consolidated financial highlights for the financial year 2021  as follows:

  • Operating revenue grew by 84per cent YoY to Rs. 4,542 Million
  •  EBITDA grew by 508per cent YoY to Rs. 596 Million
  •  EBITDA margins improved from 3.7per cent in FY20 to 12.7per cent in FY21
  •  Delivered a PAT of Rs. 136 Million in FY21
  •  Recorded a positive net cash flow from operations of Rs. 674 Million in FY21
  • Consolidated Cash and Cash Equivalents including liquid investments stood at Rs. 4,784 Million as on 31March 2021 as compared to Rs. 2,234 Million as on 31March 2020.
  • Consolidated net worth as on 31March 2021 grew by 37per cent to Rs. 7,790 million as compared to Rs. 5,700 million as on 31March 2020.

Here is the consolidated revenue Mix across business segments stood as follows.
As per the highest growth rate is concerned  gamified early learnings and esports have grown exponentially with  by 819per cent YoY and 102per cent YoY to Rs. 1,758 Million and Rs. 1,701 Million, respectively.

Commenting on the profit earned, Nazara Group CEO, Manish Agarwal, said “For FY21, we clocked a total operating revenue growth of 84per cent on YoY bases and profits of Rs.136 Mn. 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. Prudent financial management is in our DNA. This is clearly evident from Rs. 4,784 Million of cash reserves including liquid investments  as well as zero debt on our balance sheet. We will efficiently utilize our cash balance to fund any inorganic growth opportunities- from building capabilities to geographic and demographic expansions in our domain of operation. To conclude, we are in a good position to continue executing our strategy and maintain our market leadership position in the years to come.”