Nazara, an India-based gaming and sports firm, recorded a 42.5% growth in revenue in the third quarter of the financial year ended (FYE) March 2022.
Nazara CEO Manish Agarwal (left) and Nitish Mittersain, the company’s founder and managing director / Photo credit: Nazara
This rise in revenue was driven by the e-sports and real-money gaming verticals, which nearly doubled during Q3. While esports’ revenue shot up by 89%, real-money gaming soared by nearly 94%.
Nazara’s total expenses, however, widened by 46%. This was mainly because its content, event, and web server expenses more than doubled compared to the previous quarter.
While the company’s operating profits grew marginally by 2%, it posted a 20% decline in its net profit attributable to shareholders due to tax expenses.
In a statement, Nazara said that having a “diversified portfolio” across gaming segments continues to provide it with “a stable and strong platform” on which it can “build future growth and success.”
See also: Near-deaths, pivots, and an IPO: the evolution of India’s top gaming company
Editing by Collin Furtado and Eileen C. Ang
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