Nazara Tech’s share price jumped back in the green on Thursday morning going up close to 4% to hit an intraday high of ₹864.60.
What Happened: The gaming company posted its earnings for the quarter ended September on Wednesday after market close. The company’s net profit was at ₹24.2 crore for the quarter, marking a 53.3% increase from the ₹15.77 crore profit booked in the year-ago quarter.
Revenue from operations during the quarter amounted to ₹297.2 crore, a 12.7% growth from ₹263.8 crore in the corresponding quarter of the previous year. The company’s e-sports segment remained the largest contributor, generating revenues of ₹172 crore, a 26% increase from ₹136.6 crore.
Nodwin Gaming reported a 20% increase in revenues to ₹125.4 crore for the quarter, while Sportskeeda witnessed a 47% surge in revenues, reaching ₹41.4 crore.
EBITDA increased by 30% year-over-year, reaching Rs 27.9 crore in the current quarter. EBITDA margin increased by 130 bps YoY to 9.4%. Earnings per share for the quarter was at ₹2.74.
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The company had secured an investment of ₹510 crore from SBI Mutual Fund and Zerodha co-founder Nikhil Kamath to support potential acquisitions and further growth. Rekha Jhunjhunwala owns an 8.99% stake in the company.
Price Action: After the initial surge, shares of Nazara Tech simmered down to trade 0.53% higher at ₹836.30 in the early hours of trading on Thursday.
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