Nazara Technologies’ witnesses nearly 14X increase in revenue from esports

Mumbai-headquartered Nazara Technologies’ has witnessed a shift in its customer base that consumes online games and media. The revenue generated  by the company through its esports events increased 13.7X from 3.6 crore in FY18 to 49.2 crore in FY19. Nazara’s net operating cash flow improved to positive cash flow of 13.7 crore during FY19 from the negative cash flow of 5.7 crore in FY18. Nazara had ventured in esports space through its acquisition of Nodwin Gaming in 2018 according to entracker. Nazara had ventured in the prolific esports space through its acquisition of Nodwin Gaming. It helped the company cash in the growth of esports games in India driven by the success of PUBG Mobile and Fortnite. Income through freemium content also added Rs 24 crore to the company’s coffers, which grew by 58% from Rs 15.2 crore in FY19. Nazara managed to generate other income (including interest in investments and mutual fund appreciation) of Rs 16.3 crore in FY19 jumping by 66.32 per cent from Rs 9.8 crore in the previous fiscal. During 2019, it invested in PaperBoat apps, Absolute Sports, Crimzocode Education Private limited and fantasy sports platform Halaplay Technologies. Improved operational efficiencies, while growing through strategic investments and creating business synergies has set the company for a well-footed in FY20.