Nazara Technologies Limited has released its audited standalone and consolidated results for the quarter and year ended March 31, 2022.
Nazara has a varied business model that generates money from game-based learning, Esports, freemium (a business model, especially on the internet, whereby basic services are provided free of charge while more advanced features must be paid for), and telecom subscriptions as of March 31, 2022.
Operating sales of the gaming giant increased by 37% year on year (YoY) to Rs 621.7 crore, while EBITDA (earnings before interest, taxes, depreciation, and amortization) increased by 109 per cent to Rs 94.6 crore.
Nazara’s PAT (profit after tax) was also Rs 50.7 crore, up by 273 per cent year on year.
Manish Agarwal, CEO at Nazara Technologies stated, “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 37% YoY, EBIDTA of Rs. 946 Mn, up 109 % YoY, and PAT of Rs. 507 Mn, 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 Mn as of 31st March 2022. Current cash balance combined with continuous operational cashflows at subsidiary level will keep driving inorganic growth both at Nazara and at subsidiaries.”