Business Standard – Nazara Technologies clocks 84% jump in FY’21 revenue at Rs 454.2 cr
Nazara Technologies has clocked 84 per cent jump in consolidated revenue at Rs 454.2 crore for financial year 2020-21, over the previous fiscal, driven by strong growth momentum in segments like gamified learning and e-sports.
The gaming company expressed confidence that it will continue to drive profitable growth.
Nazara Technologies delivered consolidated revenue of Rs 454.2 crore (unaudited) in FY21, 84 per cent rise over FY20, when it stood at Rs 247.5 crore, Nazara said in a regulatory filing late on Thursday.
“Gamified learning and e-sports segments have not only demonstrated strong growth momentum in FY21 but have also laid the foundation for predictable growth on account of proven user engagement and retention KPIs in gamified learning and multi-year media licensing and game publisher agreements in case of e-sports,” it added.
The gamified learning segment registered 820 per cent growth in revenue, growing from Rs 19.1 crore in FY20 to Rs 175.8 crore in FY21. Similarly, e-sports segment revenue more than doubled to Rs 170.1 crore in FY21, from Rs 84.2 crore in the previous fiscal.
Revenue from freemium, telco subscription and real money gaming stood at Rs 19.5 crore, Rs 74.9 crore and Rs 13.9 crore, respectively in FY21.
“As Nazara is operating in high growth business segments such as gaming, gamified learning and e-sports, we will continue to drive profitable growth while prioritizing growth over profit maximisation at this stage so that we can achieve and maintain market leadership in the segments we operate in,” it said.
The board of directors has also given its in-principle approval to its subsidiary, Halaplay Technologies, for raising funds to the tune of Rs 18.02 crore by issuing shares in one or more tranches to identified investors, another filing said.
Post completion of the said transaction, the stake of the company in Halaplay will be diluted from 74.02 per cent to 64.70 per cent, on a fully diluted basis, it added.
Besides, the company has also entered into a share purchase agreement with Sankalp Sharma and Absolute Sports Pvt Ltd (ASPL) for acquisition of 1.40 per cent additional stake for Rs 96.16 lakh in ASPL, a subsidiary of the company.
Post completion of the said transaction, the stake of the company in ASPL will increase from 63.90 per cent to 65.30 per cent, the filing said.