Digital gaming and sports activities platform Nazara Technologies on Friday posted an about 17 % enhance in consolidated revenue to Rs 4.9 crore for the quarter ended March 2022.
The firm had logged a revenue of Rs 4.2 crore in the identical interval a 12 months in the past.
Revenue from operations elevated by about 42 % to Rs 175.1 crore through the reported quarter from Rs 123.4 crore within the year-ago interval.
“I am glad to report that we have surpassed our revenue and EBITDA guidance for FY22, despite the headwinds caused by change in Apple policies and regulatory environment in real money gaming in India and negative impact of COVID-19 in esports segment,” Nazara Technologies CEO Manish Agarwal mentioned in a press release.
For the 12 months ended March 31, 2022, Nazara Technologies’ revenue jumped over three-fold to Rs 50.7 crore from Rs 13.6 crore a 12 months in the past.
Annual income from operations elevated by 36.87 per cent to Rs 621.7 crore from Rs 454.2 crore in 2020-21.
The firm’s board authorized a bonus of 1 share in opposition to every share held by the shareholders.”Nazara has a 22-year credible historical past of delivering worth to its shareholders who’ve put religion within the firm & believed in our dream of creating India a worldwide gaming large.
“As a token of our appreciation towards our shareholders’ faith in us and to celebrate the first anniversary of being a listed company, we are happy to declare a 1:1 bonus issuance of shares,” Nazara Technologies founder and Joint Managing Director Nitish Mittersain mentioned.
Shares of Nazara closed at Rs 1,244.35 apiece, up by 13.48 % in comparison with the earlier shut, on the BSE on Friday.
Read Also: Is advertising and marketing crippling the e-commerce progress story
Follow us on Twitter, Instagram, LinkedIn, Facebook
Source: www.financialexpress.com”