Nazara’s Q2 Profit Slumps 33% YoY To INR 16 Cr

Gaming major Nazara Technologies reported a consolidated net profit of INR 16.24 Cr in the September quarter of the ongoing fiscal year (Q2 FY25), down 33% from INR 24.18 Cr in the corresponding quarter last fiscal. 

On a sequential basis, profit declined 31% from INR 23.62 Cr. 

However, it must be highlighted that Nazara’s Q2 FY25 net profit also included loss from its discontinued operations. The company incurred a loss of INR 1.86 Cr from discontinued operations as against a profit of INR 1.68 Cr in the year-ago quarter. Excluding this, its profit from continued operations fell 20% to INR 18.10 Cr during the quarter under review from INR 22.50 Cr in Q2 FY24.

Nazara’s operating revenue grew 7% to INR 318.94 Cr from INR 297.24 Cr in the year-ago quarter. It jumped 28% from INR 250.08 Cr in the preceding June quarter. 

However, the rise in total expenses outgrew the increase in revenue. Expenditure went up 11% year-on-year to INR 321.27 Cr during the quarter under review. Sequentially, it rose 33% from INR 240.95 Cr.

(The story will be updated soon.)

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