New Delhi . Domestic gaming and supports media company Nazara Technologies has registered a 33 percent decline in net profit in the JulySeptember (second quarter of financial year 202425) period.
The consolidated net profit of the company in the September quarter of the financial year 202425 has been Rs 16.24 crore. This was Rs 24.18 crore in the same quarter of the last financial year.
The company's operating income increased by 7 percent yearonyear to Rs 318.94 crore in the September quarter. It was Rs 297.24 crore in the same quarter last year.
In the last quarter, the gaming company has suffered a loss of Rs 1.86 crore from discontinued operations, whereas in the yearago quarter it had made a profit of Rs 1.68 crore.
According to the company's financial statements filed with the exchanges, total expenses between July and September increased by 11 per cent to Rs 321.27 crore.
The company raised Rs 900 crore in FY 202425 through a preferential equity issue from a consortium of investors and has made a significant investment in the leading skillbased gaming platform 'Pokerbaazi'. Apart from this, it has increased its stake in Absolute Sports (Sportskeeda).
The company also announced that its board of directors has approved the merger of Paperbot Apps with Nazara.
Nitish Mittersain, Founder and Managing Director, Nazara Technologies, said, “The merger of Paperbot Apps with Nazara is an important step in our mission to lead the gamified early learning space, as Kiddopia has already made a huge impact in this space around the world. Is.”
“This move is for us to bring the core gaming business into the parent entity to provide alternative cash flows, which can then be deployed to drive organic and inorganic growth,” Mittersain said.
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Image Credit: KhasKhabar.