Nazara Technologies shares will be in focus on Thursday after the company announced that Chief Operating Officer (COO) Sudhir Kamath will step down on April 1, following a two-and-a-half-year tenure.

Kamath is leaving to relocate to Delhi to be with his family, the company said in an exchange filing.

"The last two and a half years have been a great experience for me, with a chance to learn from you, our directors, and other colleagues at the group level as well as our subsidiaries. I hope I have also been able to help the company towards its ambitious growth targets," Kamath wrote in a letter to Nazara founder Nitish Mittersain.

Nazara Technologies Q3 earnings

Nazara Technologies reported a 53% year-on-year (YoY) decline in net profit to Rs 13.6 crore for Q3FY25, despite strong revenue growth.

The company's operating revenue jumped 67% to Rs 534.6 crore for the quarter ended December 31, 2024, compared to Rs 320 crore in the previous year. However, expenses surged 76% to Rs 530.9 crore, driven by a threefold rise in advertising and promotional costs to Rs 145.3 crore. Employee expenses also increased 86.5% to Rs 88.6 crore.

Nazara’s esports division, which grew 20% during the quarter, remained its largest revenue driver, followed by gaming and ad-tech. Revenue from the gaming segment increased over 50% to Rs 154.9 crore.

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Nazara Technologies shares target price

As per Trendlyne data, the average target price of the stock is Rs 968, which shows an upside of 3% from the current market prices. The consensus recommendation from 11 analysts for the stock is a 'Hold'.

Nazara Technologies shares performance

On Wednesday, Nazara Technologies shares closed at Rs 937.7, up 0.44% on the BSE, while the benchmark Sensex fell 0.1%. The stock has declined 7% in the last three months but gained 81% in the last two years. The company’s market capitalization stands at Rs 8,209 crore.

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