Nazara Technologies posts 21 pc growth in net profits 2022-23 – World News Network


New Delhi [India], May 10 (ANI): Diversified gaming and sports media platform Nazara Technologies Limited posted a 21 per cent growth in consolidated net profits (profit after tax) in 2022-23 at Rs 61.4 crore.
In 2021-22, the net profits were Rs 50.7 crore.
Its revenue grew 75 per cent to Rs 1,091.0 crore as against as against Rs 621.7 crore in 2021-22.
In Q4, net profits increased by 92 per cent to Rs 9.4 crore as against Rs 4.9 crore in the same quarter of 2021-22.
“We believe India is well on its way to becoming the Gaming Nation of the world in the years to come and we will continue to play a pivotal role in this journey,” said Nitish Mittersain, Founder, CEO and Jt MD of Nazara Technologies.
“We are delighted to report another milestone year for Nazara. Our strong performance in FY23 with revenues surpassing the INR 1,000 crores mark at INR 1,091.0 crores and EBITDA surpassing the INR 100 crores mark at INR 109.7 crore is a testament to the hard work and dedication of our team, as well as our strategic investments in high-growth segments.”
The company also announced that it will increase its stake in Nextwave Multimedia Private Limited, which is the developer of the popular World Cricket Championship from 52.38 per cent to 71.88 per cent to consolidate its ownership.
“WCC has established itself as the leading mobile cricket game franchise globally with millions of active gamers and has developed a very high-end cricket simulation engine on top of which many new games can be launched. We believe the potential of this popular franchise is significant for us in the years to come and are happy to have had the opportunity to increase our ownership. We will continue to work closely with the team to provide an enhanced gaming experience to cricket enthusiasts all over the world.” (ANI)

Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News


Please enter your comment!
Please enter your name here

Share post:




More like this

2-year-old stuck in MP’s Sehore borewell: Girl has slid below 50 feet, rescue ops continue – World News Network

Sehore Collector Ashish Tiwari said that the girl is stuck below more than 50 feet and the rescue operations are taking time due to the rocky ground.

Wrestlers Bajrang Punia, Sakshi Malik reach Anurag Thakur’s residence for talks – World News Network

Wrestlers Bajrang Punia and Sakshi Malik reached the residence of Union Sports Minister Anurag Thakur following fresh proposal by the government for discussion on the issues raised by them during their protest

Maharashtra CM Eknath Shinde performs ‘Bhoomi pooja’ of Balaji Temple in Navi Mumbai – World News Network

Maharashtra Chief Minister Eknath Shinde and Deputy Chief Minister Devendra Fadnavis performed the 'Bhoomi pooja' of Lord Shri Venkateswara Swamy Temple in Ulwe, Navi Mumbai on Wednesday.

Tusshar Kapoor wishes sister Ektaa on her birthday – World News Network

Actor Tusshar Kapoor took to his Instagram handle to share birthday wishes for TV czarina Ektaa R Kapoor on her birthday.
Send this to a friend