Nazara Technologies’ Net Profit Up 17% In Fourth Quarter

Digital gaming and sports platform, Nazara Technologies, announced a 17% increase in profit for the quarter ending this past March. Revenue from operations also increased by nearly 42% from the same quarter last period.

“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,” said Manish Agarwal, the CEO of Nazara Technologies.

Moreover, the company’s profit jumped three-fold from a year ago, with shares up 13.48% compared to the previous close.

To celebrate the good year, Nazara’s board approved a bonus of one share against each share held by the shareholders.

(All information was provided by Business Standard)

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