Nazara reports 273 per cent growth in PAT; 109 per cent growth in EBITDA and 37 per cent revenue growth YoY for FY22 -

Nazara reports 273 per cent growth in PAT; 109 per cent growth in EBITDA and 37 per cent revenue growth YoY for FY22

Nazara Technologies Limited has announced its audited standalone and consolidated results for the quarter and full year ended 31 March 2022.

As of 31March 2022, Nazara has diverse business segments with revenue generation accruing across gamified learning, Esports, freemium and telco subscription.

The board has approved the issue of bonus shares in the proportion of 1:1, subject to approval of the shareholders of the Company.

Key Consolidated Financial Highlights for FY22 are as follows:

  • Operating Revenues grew by 37 per cent YoY to Rs. 6,217 million
  • EBITDA* stood at Rs. 946 million, a growth of 109 per cent YoY
  • EBITDA* margins stood at 15.2 per cent v/s 10.0 per cent for FY21
  • Delivered a PAT of Rs. 507 million, growth of 273 per cent YoY; PAT margin of 8.2 per cent
  •  Cash and Cash Equivalents (incl. liquid investments) of Rs. 7,321 Mn as of 31March 2022 

 

Commenting on the performance, Nazara Technologies CEO Manish Agarwal said,

“On behalf of Nazara Group, 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 & regulatory environment in real money gaming in India and negative impact of COVID19 in esports segment.

In FY22, we generated revenues of Rs. 6,217 Mn, up 37per cent YoY, EBIDTA of Rs. 946 Mn, up 109per cent YoY, and PAT of Rs. 507 Mn, up 273per cent YoY. We are glad to report that all of the group’s business sectors are profitable, have added significant cash balance in FY22.

Our strategy of diversifying portfolio across business categories continues to give us a solid & robust momentum to grow faster than the overall gaming and esports market in coming years.

The Company has cash on hand of Rs. 7,321 Mn as of 31March 2022. Current cash balance combined with continuous operational cashflows at subsidiary level will keep driving inorganic growth both at Nazara and at subsidiaries”

Commenting on the bonus issue declared by the company, founder and joint managing director Nitish Mittersain said,

“Nazara has a 22-year credible history of delivering value to its shareholders who have put faith in the company and believed in our dream of making India a global gaming giant. 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’s approach of driving profitable growth provides a strong platform for continued growth”