Nazara Tech Q3 Result: Higher other income aids bottomline, shares end lower

Nazara Technologies on Tuesday announced a net profit of Rs 22.4 crore for the December quarter as against Rs 17.1 crore in the year-ago quarter, driven by higher other income.

Revenue from operations rose by 69 percent year-on-year to Rs 314.8 crore from Rs 185.8 crore in the year-ago period. The company's revenue in the September quarter was Rs 263.8 crore and profit stood at Rs 17.4 crore.

Other income was higher at Rs 11.5 crore in the December quarter as against Rs 4 crore a year ago.

The company’s EBITDA stood at Rs 30.6 crore in the December quarter as against Rs 30.3 crore in the year-ago quarter.

The company stated that its business continued to scale profitably across its five key business verticals. The diversified business across multiple geographies allowed the company to have various levers of growth and mitigate industry headwinds affecting any one segment.

The company's flagship product for young children “Kiddopia” came back onto a growth path while its recent acquisition Datawrkz delivered strong organic growth of around 55 percent year-on-year.

Shares of Nazara Technologies ended 0.28 percent lower at Rs 610 on Wednesday.