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Business News›Tech››Nazara Technologies reports 43% increase in profit after tax at Rs 17 crore in Q4
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Nazara Technologies reports 43% increase in profit after tax at Rs 17 crore in Q4
ETtech
Synopsis
Nazara Technologies reported a 43% increase in profit after tax to Rs 17 crore for Q4 FY24. Operating revenue for March fell 8% to Rs 266 crore. FY24 PAT from operations grew to Rs 89 crore. Founder Nitish Mittersain is optimistic about accelerated growth in revenue and EBITDA in FY25.
ETtechListed gaming and media firm Nazara Technologies reported a 43% increase in profit after tax (PAT) from continued operations to Rs 17 crore for the final quarter of the fiscal year 2024.
Operating revenue for the three months ended March fell 8% to Rs 266 crore. For the full year, revenue grew by 4.3% to Rs 1,138 crore, against Rs 1,091 crore a year ago. PAT from continued operations jumped 41% to Rs 89 crore, against Rs 63 crore in FY23.
“We are optimistic about FY25, expecting accelerated growth in both revenue and EBITDA. With substantial cash reserves and a robust M&A pipeline, we are well positioned to seize further growth opportunities and enhance our growth trajectory through strategic M&A over the next 12 months,” said founder and chief executive Nitish Mittersain.
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