Nazara Technologies Q2 Results 2024:Nazara Technologies declared their Q2 results on 14 Nov, 2024, revealing a topline increase of 7.3% and a profit rise of 10.85% year-on-year. The company's profit stood at ₹21.97 crore while revenue reached ₹318.94 crore.
In comparison to the previous quarter, Nazara's revenue grew significantly by 27.54%; however, the profit saw a slight decrease of 2.92%. This indicates a mixed performance when evaluating short-term growth.
The company's Selling, General & Administrative expenses saw a notable rise, increasing by 31.88% quarter-on-quarter and 28.82% year-on-year, suggesting heightened operational costs.
Despite the positive profit growth, the operating income faced a steep decline, down by 105.98% quarter-on-quarter and 105% year-on-year, raising concerns about operational efficiency.
Earnings per share (EPS) for Q2 reached ₹3.35, which represents a 17.47% increase year-on-year, reflecting strong profitability metrics despite the operational challenges.
Over the last week, Nazara Technologies has delivered a return of -2.48%, but has performed well in the longer term with a 47.64% return over the past six months and a 6.47% year-to-date return.
As of 17 Nov, 2024, Nazara Technologies has a market capitalization of ₹6980.98 crore, with a 52-week high of ₹1117 and a low of ₹591.5, indicating volatility in its stock performance.
Out of the nine analysts covering Nazara, there is a divided sentiment; one analyst has given a Strong Sell rating, three a Sell rating, one a Hold rating, one a Buy rating, and three a Strong Buy rating.
The consensus recommendation as of 17 Nov, 2024, is to Hold, suggesting that while there are positive indicators, caution is warranted in light of recent operating income declines.
Nazara Technologies Financials
| Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 318.94 | 250.08 | +27.54% | 297.24 | +7.3% |
| Selling/ General/ Admin Expenses Total | 254.79 | 193.2 | +31.88% | 197.78 | +28.82% |
| Depreciation/ Amortization | 25.74 | 15.2 | +69.34% | 15.08 | +70.69% |
| Total Operating Expense | 319.52 | 240.38 | +32.92% | 285.64 | +11.86% |
| Operating Income | -0.58 | 9.7 | -105.98% | 11.6 | -105% |
| Net Income Before Taxes | 21.75 | 34.03 | -36.09% | 21.24 | +2.4% |
| Net Income | 21.97 | 22.63 | -2.92% | 19.82 | +10.85% |
| Diluted Normalized EPS | 3.35 | 2.96 | +13.2% | 2.85 | +17.47% |
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