Nazara Technologies shares rally 9% as Company reported 84% revenue growth in FY21
Published On: Friday, April 23, 2021 | By: Team KnowMyStock
The gaming company Nazara Technologies shares gained 9% 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. The company expressed confidence that it will continue to drive profitable growth. 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 percent 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.
On the operational front, EBITDA including share of non-controlling interest for FY21 witnessed 470 percent growth over FY20.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
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