Nazara Technologies Limited an India-based diversified sports and gaming media platform with operations in India and in emerging and developed global markets such as Africa and North America, announced its unaudited standalone and consolidated results for the quarter and the nine months ended31st December 2021.
As of December 31, 2021, Nazara has various business segments with revenue generation from gamified learning, e-sports, freemium subscriptions and telecommunications.
The main consolidated financial highlights for 9MFY22 are as follows:
ü Operating revenue increased by 35% YoY to Rs. 4,466 million
ü EBITDA* stood at Rs. 797 million, a year-on-year growth of 141%
ü EBITDA* margins were 17.8% vs. 10.0% for 9MFY21
ü Delivered a PAT of Rs. 428 million, growing 355% YoY; 9.6% PAT margin
*EBITDA excludes other revenue
the Composition of consolidated revenues across all business segments is as follows:
a E-sport segment demonstrated 75% revenue growth as well as 71% EBITDA growth in the first 9MFY22 and continued the revenue growth momentum seen in FY20- 21 (102% growth from FY20). Esports has seen a CAGR of 70% in revenue over the past 3 years. This segment now contributes the highest revenue in Nazara’s portfolio with a 48% contribution to revenue in 9MFY22 compared to 37% in 9MFY21.
a Gamified early learninggrew 22% in 9MFY22 compared to 9MFY21 and added a net positive paid subscriber base in Q3.
a Real Money Skill-Based Gambling grew 53% in 9MFY22 compared to 9MFY21 and broke even in EBITDA in Q3, compared to losses in prior quarters.
Commenting on the performance, Mr. Manish Agarwal, Group CEO, said:
“Nazara reported revenue of Rs. 4,466 Mn in 9MFY22 vs Rs. 3,308 Mn in 9MFY21, a growth of 35% on an annual basis, and our 9MFY22 EBIDTA jumped 141% to Rs. 797 Mn from Rs. 331 Mn in 9MFY21.
For Q3FY22, we reported revenue of Rs. 1,858 Mn vs. Rs. 1,304 Mn in Q3FY21, representing a growth of 42% on an annual basis, and our Q3 EBITDA came in at Rs 302 Mn vs. Rs. 273 Mn in the same quarter of the previous year.
Overall, we are pleased with our growth in strategic areas while maintaining healthy profitability and cash flow.
We saw 75% year-on-year growth in the esports segment for 9MFY22, driven by strong revenue growth across all sub-segments from Nodwin and SportsKeeda. The addition of original IPs such as NH7 Weekender and the expansion of our esports business in the Middle East through our acquisition of Publishme further accelerated the growth momentum.
Nazara’s strategy of having a diverse portfolio across all gaming business segments continues to provide us with a stable and solid platform on which we can continue to build future growth and success.
Nazara remains committed to creating multiple levers of growth across gamified learning, freemium, esports, and skill-based real-money gaming via growing its current portfolio and adding additional offerings in the “Friends of Nazara” network through strategic mergers and acquisitions.