New Delhi, Feb 6 (IANS) Online gaming major Nazara Technologies on Tuesday reported 2 per cent growth in revenue in Q3 FY24 to Rs 320.4 crore as against Rs 314.8 crore in Q3 FY23. EBITDA increased by 24% to Rs 37.7 crore as against Rs 30.5 crore in Q3 FY23, while profit after tax (PAT) grew by 47% to Rs 29.5 crore as against Rs 20.1 crore in Q3 FY23.
For the nine months ended December 21 in the current fiscal year, the company saw its revenue grew by 9 per cent to Rs 872.1 crore as against Rs 801.7 crore in the same period in the last fiscal year.
PAT grew by 44% to Rs 74.6 crore in the current nine-month period as against Rs 51.8 crore in FY22.
“We saw healthy growth in Animal Jam and Sportskeeda resulting in our EBITDA increase by 24% year-on-year and our EBITDA margin increasing from 9.7% in Q3 FY23 to 11.8% in Q3 FY24,” said Nitish Mittersain, Founder, CEO and joint managing director of Nazara Technologies.
“We are optimistic this strategy will enable substantial scale-up opportunities we can replicate in the future,” he added.
The company also completed its FY24 fundraising goal, securing Rs 760 crore through a preferential placement to marquee investors.
Last month, Nazara Technologies raised Rs 250 crore via preferential allotment of equity shares.
The company also announced that it will acquire a 10.7% stake in Kofluence, a leading social media influencer-led marketing-tech platform, from certain existing investors through a share swap.
–IANS/na/
