Key Highlights (Consolidated, QoQ)
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Revenue down 8.1% at Rs 289.30 crore. (Bloomberg estimate: Rs 296.15 crore.)
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Ebit is down 25.83% at Rs 11.20 crore.
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EBIT margin at 3.87% versus 4.8%.
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Net profit up 92% at Rs 9.4 crore. (Bloomberg estimate: Rs 16.23 crore.)
The company reported broad-based revenue growth, with 28% revenue growth in gaming, 75% in eSports, and 53% in adtech.
Nazara Tech also announced that it will increase its stake in Nextwave Multimedia Pvt., which is the developer of the popular World Cricket Championship, from 52.38% to 71.88% to consolidate its ownership.
Shares of the company fell 3.2% to Rs 570.45 apiece, compared to a 0.3% fall in the S&P BSE Sensex.
Of the 12 analysts tracking the company, nine maintain ‘buy,’ two suggest ‘hold,’ and one recommends ‘sell,’ according to Bloomberg data. The average 12-month consensus price target implies an upside of 32.4%.
