Nazara Tech rose 17% to Rs 4.9 crore
Digital gaming and sports platform Nazara Technologies on Friday increased its consolidated profit for the quarter ended March 2022 by about 17 percent to Rs 4.9 crore.
The company had earned Rs 4.2 crore in the same period a year ago.
During the quarter under review, revenue from operations increased by about 42 per cent to Rs 175.1 crore from Rs 123.4 crore in the year-ago period.
Nazara Technologies "I am pleased to announce that we have exceeded our revenue and EBITDA guidelines for FY22, despite headwinds due to changes in Apple policy and regulatory environment in real money gaming in India and the negative impact of COVID-19 on the sports sector," Nazara Technologies said. CEO Manish Agarwal said in a statement.
For the year ended March 31, 2022, Nazara Technologies' profit tripled from Rs 13.6 crore a year ago to Rs 50.7 crore.
The annual revenue from operations increased by 36.87 per cent to Tk 621.7 crore from Tk 454.2 crore in 2020-21.
The company's board has approved a share bonus for every share held by shareholders. " Nazara has a credible 22-year value-paying history to shareholders who have trusted the company and believed in India's dream of a global gaming. The monster
"As a sign of our appreciation for our shareholders' trust in us and to celebrate the first anniversary of being a listed company, we are pleased to announce the issuance of a 1: 1 bonus on shares," said Nitish Mitersen, Founder and Joint Managing Director of Nazara Technologies.
Shares of Nazareth rose 13.48 per cent to close at Rs 1,244.35 on the BSE on Friday.
Read more: Is marketing crippling the story of e-commerce growth?
Follow us TwitterInstagram, LinkedIn, Facebook