Nazara Technologies, an India-based diversified gaming and sports media platform with a presence in India and across emerging and developed global markets such as Africa and North America, has announced its audited standalone and consolidated results for the fourth quarter and full year ended March 31, 2022.
As of March 31, 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% YoY to Rs 6,217 million
- EBITDA stood at Rs 946 million, a growth of 109% YoY
- EBITDA margins stood at 15.2% v/s 10.0% for FY21
- Delivered a PAT of Rs 507 million, growth of 273% YoY; PAT margin of 8.2%
- Cash & Cash Equivalents (including liquid investments) of Rs 7,321 million as of March 31, 2022
Commenting on the performance, Manish Agarwal, CEO, Nazara Technologies, 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 and regulatory environment in real money gaming in India and negative impact of COVID-19 in esports segment.”
He further said, “In FY22, we generated revenues of Rs 6,217 million, up 37% YoY, EBIDTA of Rs 946 million, up 109 % YoY, and PAT of Rs 507 million, up 273% 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 & esports market in coming years. The company has cash on hand of Rs 7,321 million as of March 31, 2022. Current cash balance combined with continuous operational cashflows at subsidiary level will keep driving inorganic growth both at Nazara and at subsidiaries,” he added.
Commenting on the bonus issue declared by the company, Nitish Mittersain, Founder & Joint Managing Director, Nazara, 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.”