The share price of Nazara Technologies rallied over 9 percent on Friday after the company said that its consolidated revenue in the fiscal year 2021 rose sharply by 84 percent to Rs 454.2 crore led by gamified learning and eSports segments.
The company had reported a revenue of Rs 247.5 crore in FY20.
“Gamified learning and eSports segments have not only demonstrated strong growth momentum in FY21 but have also laid the foundation for predictable growth,” Nazara Technologies said in a regulatory filing.
On the operational front, EBITDA including share of non-controlling interest for FY21 witnessed 470 percent growth over FY20.
“As Nazara is operating in high growth business segments such as gaming, gamified learning and eSports, we will continue to drive profitable growth while prioritizing growth over profit maximization at this stage so that we can achieve and maintain market leadership in the segments we operate in,” the company said.
Nazara is an India-based, diversified gaming and sports media platform with presence in the country and across emerging and developed global markets such as Africa and North America. As of March 31, 2021, Nazara has diverse business segments with revenue generation happening across gamified learning, eSports, freemium and telco subscription.
The share price of the Rakesh Jhunjhunwala-backed gaming firm, however, is down around 16 percent from its listing price.
The company made its debut on exchanges on March 30. The stock was listed at a bumper premium of 80.74 percent to the issue price.
At 12:00 pm, the shares of Nazara Technologies were trading 3.50 percent higher at Rs 1,665.35 apiece on the BSE.