Nazara Technologies Limited an India based, diversified gaming and sports media platform with presence in India and across emerging and developed global markets such as Africa and North America, announced its audited Standalone and Consolidated results for the year ended 31st March 2021.
As of March 31, 2021, Nazara has diverse business segments with revenue generation happening across gamified learning, esports, freemium, real money gaming and telco subscription.
Key Consolidated Financial Highlights for the financial year 2021 are as follows:
- Operating Revenues grew by 84% YoY to Rs. 4,542 Million
- EBITDA grew by 508% YoY to Rs. 596 Million
- EBITDA margins improved from 3.7% in FY20 to 12.7% in FY21
- Delivered a PAT of Rs. 136 Million in FY21
- Recorded a positive Net Cash Flow from Operations of Rs. 674 Million in FY21
Commenting on the performance, Mr. Manish Agarwal, Group CEO, said “For FY21, we clocked a total operating revenue growth of 84% on YoY bases and profits of Rs.136 Mn. As we operate in the high growth business segments of Gamified early learning, eSports and Freemium, we will continue to prioritize growth over profit maximization, so that we can achieve and maintain market leadership in segments we operate in.
Prudent financial management is in our DNA. This is clearly evident from Rs. 4,784 Million of cash reserves including liquid investments as well as zero debt on our balance sheet. We will efficiently utilize our cash balance to fund any inorganic growth opportunities- from building capabilities to geographic and demographic expansions in our domain of operation. To conclude, we are in a good position to continue executing our strategy and maintain our market leadership position in the years to come.”