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Nazara reports H1 2021 revenue growth of 30%, reaching $35 million

EBITDA increased by 700%
Nazara reports H1 2021 revenue growth of 30%, reaching $35 million

Indian games firm Nazara Technologies has reported its half-year financials, for the six months ending September 30th 2021.

The firm’s operating revenues reached approximately $34.8 million, an increase of 30 per cent year-on-year.

Nazara’s EBITDA saw a year-on-year increase of 700 per cent, totalling approximately $6.6 million.

The company declared that its profits after taxes (PAT) came close to $2.8 million, which compared to the previous year’s loss of $1.1 million.

Strong execution platform

In comparison with 12 months ago, the firm’s esports operations generated $13.7 million, an increase of 62 per cent year-on-year.

Nazara’s gamified learning operations grew by 35 per cent year-on-year, accumulating approximately $14 million.

The rest of the firm’s revenue came from its telco subscription operations, real-money gaming and "freemium" services.

"We have built a strong execution platform in the first half of the year and we expect to accelerate revenue growth further in the latter half on the back of strong tailwinds," said Nazara CEO Manish Agarwal.

"We expect our FY22 consolidated revenues to grow in the range of 35 to 40 per cent on a year-on-year basis with an EBITDA margins profile at 13 to 15 per cent. The growth shall be supported by organic and inorganic activities."

Recently, Nazara raised $42 million from marquee investors to fund growth initiatives and acquisitions, including acquisitions in free-to-play and esports sectors.