Big Bull’s Portfolio Stock Soars 18% on Strong Q1, Bottomline Zooms 237% QoQ

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Big Bull’s Portfolio Stock Soars 18% on Strong Q1, Bottomline Zooms 237% QoQ
Credit: © Reuters.

By Malvika Gurung -- Shares of the mobile gaming company Nazara Technologies (NS: NAZA ) rallied 17.7% to Rs 623.5 apiece at the time of writing on Monday, following stellar June quarter earnings.

The company’s consolidated net profit surged 22% YoY and skyrocketed 237% on a sequential basis to Rs 16.5 crore in the June quarter, aided by strong growth in revenue.

Its revenue jumped 70% YoY to Rs 223.1 crore in the quarter and 27.4% sequentially. 

The small-cap company’s EBITDA rose 19% YoY and soared 133% QoQ to Rs 30.1 crore in Q1 FY23, while the EBITDA margin shrank to 13.49% in the quarter, compared to 19.28% in Q1 FY22.

However, sequentially, the margin expanded by 613 basis points.

Ace investor Rakesh Jhunjhunwala holds 65,88,620 equity shares of the company, translating to a 10% stake, as of June 30, 2022.

The company’s management said, “The multi-pronged approach to capture opportunities has been yielding positive traction and we are in line with our target growth plans for FY23. 

The traction across businesses; E-sports and Real Money Gaming witnessed strong growth while the addition of a new growth engine in form of Datawrkz has augmented well for the business. We have also seen a stabilisation of unit economics for our Gamified Early Learning business.”

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