3 hours ago
Nazara, an India based gaming and sports media company announced that its operating revenues have increased 84 percent YoY to Rs 454.2 crore.
The main driver behind this revenue is Nazara’s verticals Gamified Early Learnings and eSports which grew by 819% YoY and 102% YoY to Rs. 175.8 crore and Rs. 170.1 crore, respectively. Manish Agarwal, Group CEO of Nazara that they recorded a Rs 478.4 crore cash reserve including liquid investments, apart from zero debt on its balance sheet.
However, it’s worth mentioning that the company’s
overall revenues
declined by 5% sequentially, due to seasonal reasons. For instance, Nodwin Gaming, (which is included in Nazara’s ESports vertical) does not plan big events for the last quarter as 14–21 year-olds have exams during this time.