Nazara Technologies Q3 Profit Jumps 21%
Nazara Technologies Ltd., a leading gaming company, saw its net profit rise by 21% in the third quarter of the financial year (FY25), matching what market analysts predicted. The company’s profit reached Rs 30.7 crore for the quarter ending December 31, as per an official stock exchange filing on Thursday. This aligns with the average estimate of Rs 31 crore from a Bloomberg analyst poll.
Key Highlights of Nazara’s Q3 Performance
The company’s revenue grew significantly, increasing by 67% to Rs 534.7 crore compared to Rs 320.4 crore in the same period last year. This exceeded analyst expectations of around Rs 410 crore. While earnings before interest, taxes, depreciation, and amortization (EBITDA) saw a modest 2% uptick to Rs 37.1 crore from Rs 36.3 crore, it fell short of the estimated Rs 45 crore. Profit margins decreased to 6.9% from 11.3% a year ago, also lower than the anticipated 11%.
Stock Market [[Performance]]
Shares of Nazara Tech experienced a slight increase of 0.64%, closing at Rs 926.20 per share on Thursday. This positive movement contrasts with a minor 0.06% dip in the benchmark Nifty index. Over the past year, Nazara Tech’s stock has shown an upward trend, gaining 8.80%.
Analyst Ratings and Future Outlook
According to Bloomberg data, the majority of analysts (six out of eleven) recommend buying Nazara Tech’s stock. One analyst suggests holding the stock, while four advise selling. The average price target set by analysts over the next 12 months indicates a potential 7.7% increase in the stock’s value.
Investment and Acquisition Plans
Nazara Tech’s CEO revealed plans to use Rs 495 crore from Axana Estates for investments and acquisitions. This strategic move signals the company’s intent to expand its presence in the gaming and [[tech]] market. This latest business news update indicates strong financial performance and positive market sentiment around Nazara Tech. For more in-depth financial analysis and market updates, you can refer to dedicated business news platforms.
