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Writer's pictureCA Vishnu Agarwal

Nazara Technologies Ltd. Q4FY24 & FY24 Annual Results:


Nazara Technologies Ltd., a leading India-based gaming and sports media platform, announced its financial results for the fourth quarter (Q4FY24) and the full fiscal year 2024 (FY24).


Q4FY24 Financial Highlights:


  • Revenue: ₹266.2 crore (8.6% decrease YoY compared to Q4FY23)

  • EBITDA: ₹29.3 crore (5.4% increase YoY)

  • EBITDA Margin: 11.0% (140 bps improvement YoY)

  • PAT (from continued operations): ₹17.1 crore (43.7% increase YoY)


FY24 Financial Highlights:


  • Revenue: ₹1,138.3 crore (4.3% increase YoY)

  • EBITDA: ₹127.9 crore (16.6% increase YoY)

  • EBITDA Margin: 11.2% (110 bps improvement YoY)

  • Operating Cash Flow: ₹131.4 crore (demonstrates strong underlying performance)

  • Net Cash Balance: ₹~1,450 crore (after the largest fundraise to date of ₹950 crore)


Key Points & Insights:


  • Revenue Growth: The company achieved 4.3% revenue growth in FY24, driven by the performance of key games and esports segments.

  • Improved Profitability: EBITDA and EBITDA margin improved significantly in both Q4 and FY24, indicating efficient cost management and operational leverage.

  • Strong Cash Flow: The company's operating cash flow increased significantly, reflecting the strength of its underlying business.

  • Fundraise and Cash Balance: Nazara raised ₹950 crore in FY24, resulting in a robust net cash balance, which will support future growth initiatives.

  • Management Commentary:  Nitish Mittersain, Founder, CEO & Jt MD, stated that FY24 was a year of building a strong foundation for rapid future scaling. He expressed optimism about the company's growth prospects, driven by its diversified portfolio of games and esports offerings, expanding user base, and strategic investments.


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