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Home >Companies >Company Results >Nazara posts revenue of Rs207 crore, profit of Rs10 crore for Apr-Sep period

NEW DELHI: Gaming company Nazara Technologies Ltd, backed by investor Rakesh Jhunjhunwala, on Friday reported a profit of Rs10.1 crore for the six month period ended September 2020. For fiscal 2020, it had reported a a net profit of Rs26 crore.

Gamified learning and eSports were the key growth drivers, while revenue from traditional telecom gaming subscription slumped.

Revenue was at Rs207 crore during April-September 2020 compared to Rs262 crore for the entire FY20. EBITDA during the six months was Rs12.65 crore as compared to Rs9.1 crore for FY20, with EBITDA margins at 6.11%.

Gamified learning segment generated revenue through paid subscription on Kiddopia, an e-learning platform offering content for children aged 2-6 years. Kiddopia was acquired from Paper Boat Apps in FY20. Paid subscribers on the platform grew from 1,15,220 at the time of acquisition to 3,16,428 as of December last year.

Kiddopia generated revenue of Rs78.6 crore during the period under review, accounting for 39.25% of Nazara’s total revenue.

eSports with a revenue of Rs63.7 crore was the second biggest growth driver accounting for 31.78% of the total revenue. Telecom subscription generated Rs42.7 crore, accounting for 21.3% of total revenue. This segment includes over a 1,000 Android games offered by telcos to first time mobile gamers.

EBITDA margins for high growth segments such as gamified learning and eSports are improving, while margins for freemium and telecom subscription are range bound.

eSports revenue mainly came from event and content IPs, exclusive rights and ownership of live streaming and on-demand premium eSports content, monetisation through media rights licensing, and brand partnerships with global game publishers.

Region-wise, North America and India were the most important markets with revenue of Rs83.4 crore and Rs82.4 crore, respectively. The former accounted for 41.64% of the revenue while the latter 41.15%.

Nazara will be the first gaming coming in India to list on Indian exchanges. Its Rs583 crore initial public offering opens on March 17, with an issue price of Rs1,100-1,101 per share.

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