Nazara Technologies Q3 Profits Plunge, Eyes Strategic Growth with New Investments

Nazara Technologies reported a 35.3% decline in consolidated profit for the December quarter, citing a drop in revenue from operations. The company announced investments in nCore Games and Rusk Media, highlighting efforts to bolster the Indian gaming ecosystem and pursue strategic acquisitions for future growth.

Nazara Technologies has announced a steep decline in its consolidated profit for the December quarter, experiencing a 35.3% drop to Rs 8.84 crore. This downturn comes alongside a 24% year-on-year decrease in revenue from operations, which now stands at approximately Rs 406 crore, according to a recent BSE filing.

In a strategic move to enhance the Indian gaming landscape, Nazara Technologies' board has approved investments in nCore Games, known for its 'FAU-G' franchise, and Rusk Media, a mobile-first entertainment platform targeting the Gen-Z and Gen-A demographic. The company is injecting up to Rs 15 crore into Rusk Media as part of this strategy.

CEO Nitish Mittersain emphasized the company's focus on global expansion, highlighting disciplined execution and efficient capital allocation. He noted the contribution of new launches, content expansion, and platform extensions to the company's growth avenues. Mittersain stated that strategic acquisitions would continue to be a key driver for long-term value creation.

(With inputs from agencies.)