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665 per share, a downside of 28.2% from the previous day’s closing price.
The brokerage said the company’s third quarter revenue was boosted by acquisition. It said the company witnesses continued subscriber loss in Kiddopia. Nodwin revenue is growing but EBITDA is at a loss.
The brokerage said Nazara Tech will be raising ₹500 crore from existing investors at ₹990 per share. It said an open offer is triggered. The brokerage added that the company’s valuation is expensive as it is 50 times the FY26CL PE.
The company reported a 53.6% decline in net profit at ₹13.7 crore in the December quarter
from ₹29.5 crore in the previous year. The company’s revenue from operations spiked 66.9% to ₹534.7 crore against ₹320.4 crore last year. Its EBITDA increased 1.9% to ₹37 crore and its EBITDA margin contracted to 6.9% from 11.3% last year.
Nazara Technologies’ core gaming segment revenue grew by 53%, driven by strategic acquisitions, including Fusebox Games, and strong performance from existing titles like Animal Jam. The company recently acquired popular gaming IPs CATS: Crash Arena Turbo Stars and King of Thieves, which will now be operated and published by Nazara, ensuring direct revenue and profit contributions.
Additionally, upcoming licensing agreements and integrations of entertainment IPs are expected to further boost user engagement. To support its expansion, Nazara is raising ₹495 crore through a preferential equity issue to Axana Estates LLP, led by Arpit Khandelwal and Mithun Sacheti. This capital infusion, combined with Nazara’s strong cash reserves, provides financial flexibility for future acquisitions and organic growth, driving long-term value creation.
Nazara Tech shares ended 0.26% higher at ₹927 apiece in the previous trade session.
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