Rakesh Jhunjhunwala-backed mobile gaming company Nazara Technologies on May 28 reported consolidated profit of Rs 4.2 crore for the quarter ended March 2021, against loss of Rs 7.02 crore in the year-ago quarter.
Revenue in Q4FY21 grew sharply by 41.7 percent to Rs 123.38 crore compared to the year-ago quarter, the company said in its BSE filing.
"The prudent financial management is clearly evident from Rs 478.4 crore 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," said Manish Agarwal, Group CEO.
In the financial year 2020-21, Nazara posted consolidated profit of Rs 13.63 crore against loss of Rs 26.77 crore in previous year. Revenue shot up 83.5 percent to Rs 454.21 crore from Rs 247.51 crore in the same period.
"The high growth segments of Gamified Early Learnings and eSports have grown by 819 percent YoY and 102 percent YoY to Rs 175.8 crore and Rs 170.1 crore, respectively," said Nazara.
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The company further said consolidated cash and cash equivalents including liquid investments stood at Rs 478.4 crore as on March 2021, compared to Rs 223.4 crore as on March 2020.
Consolidated net worth as of March 2021 grew by 37 percent to Rs 779 crore compared to Rs 570 crore as of March 2020, Nazara added.
Ace investor Rakesh Radheshyam Jhunjhunwala holds 10.82 percent equity stake in Nazara Technologies, while Arpit Khandelwal has 11.32 percent shareholding in the company.