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Gaming and media firm Nazara Technologies reported a 24% year-on-year (YoY) decline in operating revenue for the third quarter of the current fiscal to Rs 405.9 crore, while its net profit fell 35% to Rs 8.8 crore.The company attributed this mainly to the deconsolidation of its esports and events
Nazara Technologies Q3 FY26 revenue dips 24% to Rs 406 crore, profit falls 35%
Gaming and media firm Nazara Technologies reported a 24% year-on-year (YoY) decline in operating revenue for the third quarter of the current fiscal to Rs 405.9 crore, while its net profit fell 35% to Rs 8.8 crore.
The company attributed this mainly to the deconsolidation of its esports and events arm Nodwin Gaming, which was de-subsidiarised by Nazara last year. In the corresponding quarter of the previous fiscal, Nodwin had contributed Rs 165.1 crore to Nazara's consolidated revenue.
Despite the on-year decline, the company returned to profitability on a sequential basis from a net loss of Rs 33.9 crore in the second quarter of this fiscal, after booking an impairment charge on its investment in PokerBaazi's parent company, Moonshine Technologies. The company had marked down the value of this investment in Q2 following a regulatory ban on real money gaming.
Gaming remained Nazara's largest revenue contributor, generating Rs 256.9 crore during the quarter, followed by adtech at Rs 115.4 crore. Esports contributed Rs 33.9 crore, accounting for 8.3% of the operating revenue.
Total expenses during the quarter declined 24% YoY to Rs 402.2 crore, while advertising and promotion costs fell 25% to Rs 109 crore, aiding margins.
“Nazara continued to make strong progress in building a global gaming company. The quarter was driven by disciplined execution, improving operating efficiency, and multiple growth engines across new launches, live content expansion, and platform extensions,” Nitish Mittersain, joint managing director and CEO of Nazara Technologies, said in a statement.
Fresh investments
On Tuesday, Nazara's board granted in-principle approval for a primary capital infusion of up to Rs 15 crore into Rusk Media, a digital entertainment platform.
Separately, the board also approved an in-principle investment of $500,000 by Nazara Technologies FZ LLC, its wholly owned subsidiary, in nCore Games, the developer of the FAU-G gaming franchise. The proposed investment will be made through a convertible promissory note, the company said.
Shares of Nazara closed 1.3% higher at Rs 284.40 on the BSE on Wednesday. The company announced its results after market hours.
Source: EconomicTimes
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