Nazara Tech Reports 84% Revenue Jump for FY21

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Nazara Tech Reports 84% Revenue Jump for FY21
Credit: © Reuters.

By Aditya Raghunath

Investing.com -- Rakesh Jhunjhunwala-backed Nazara Technologies Ltd (NS: NAZA ) reported an 84% jump in revenue to Rs 454.2 crore from FY20 where it clocked revenues of Rs 247.5 crore. Nazara reported these numbers in a regulatory filing and said that revenue grew on the back of strong demand on gamified learning and e-sports.

“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.

Gamified learning had a surge of 820% in revenue growth to Rs 175.8 crore in FY21 from Rs 19.1 crore in FY20. The e-sports segment’s revenue more than doubled from Rs 84.2 crore in FY20 to Rs 170.1 crore in FY21.

The freemium, telco subscription and real money gaming segments recorded revenues of Rs 19.5 crore, Rs 74.9 crore and Rs 13.9 crore, respectively in FY21.

“As Nazara is operating in high growth business segments such as gaming, gamified learning and e-sports, we will continue to drive profitable growth while prioritizing growth over profit maximization at this stage so that we can achieve and maintain market leadership in the segments we operate in,” it said.

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