Nazara FY21 net profit at INR 136 million

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Nazara delivers 84% Revenue Growth, 508% EBIDTA Growth YoY resulting in healthy net profit after tax & strong operating cash flows.

Nazara Technologies Limited (BSE: 543280) (NSE: NAZARA) an India based, diversified gaming and sports media platform with presence in India and across emerging and developed global markets such as Africa and North America, announced its audited Standalone and Consolidated results for the year ended 31st March 2021.

As of March 31, 2021, Nazara has diverse business segments with revenue generation happening across gamified learning, esports, freemium, real money gaming and telco subscription.

Key Consolidated Financial Highlights for the financial year 2021 are as follows:

• Operating Revenues grew by 84% YoY to INR 4,542 Million
• EBITDA grew by 508% YoY to INR 596 Million
• EBITDA margins improved from 3.7% in FY20 to 12.7% in FY21
• Delivered a PAT of INR 136 Million in FY21
• Recorded a positive Net Cash Flow from Operations of INR 674 Million in FY21

Consolidated Cash and Cash Equivalents including liquid investments stood at INR 4,784 Million as on 31st March 2021 as compared to INR 2,234 Million as on 31st March 2020.

  • Consolidated Net worth as on 31st March 2021 grew by 37% to INR 7,790 Million as compared to INR 5,700 Million as on 31st March 2020.
  • The Consolidated Revenue Mix across business segments stood as follows:

The high growth segments of Gamified Early Learnings and eSports have grown by 819% YoY and 102% YoY to INR 1,758 Million and INR 1,701 Million, respectively.

Manish Agarwal, Group CEO said “For FY21, we clocked a total operating revenue growth of 84% on YoY bases and profits of INR.136 Mn. As we operate in the high growth business segments of Gamified early learning, eSports and Freemium, we will continue to prioritize growth over profit maximization, so that we can achieve and maintain market leadership in segments we operate in.

Prudent financial management is in our DNA. This is clearly evident from INR 4,784 Million of cash reserves including liquid investments as well as zero debt on our balance sheet. We will efficiently utilize our cash balance to fund any inorganic growth opportunities- from building capabilities to geographic and demographic expansions in our domain of operation. To conclude, we are in a good position to continue executing our strategy and maintain our market leadership position in the years to come.”