Shares of this gaming company jumped up to 5 percent after announcing partnerships to publish five innovative games in India. The shares have delivered more than 30 percent to its shareholders on a YTD basis.
With a market capitalisation of Rs. 5,577 crores, the shares of Nazara Technologies Ltd started Wednesday’s trading session on a higher note at Rs. 879.80 compared to its previous close of Rs. 875.20. The share hit a high of Rs. 919.70, gaining around 5 percent and closed that day at Rs. 843.40 apiece.
Such a positive movement in the share price was observed after the company in an exchange filing announced partnerships with four distinguished Indian game studios to publish five innovative games in India.
The eclectic mix of games selected for publication includes ‘Gravity Shooter’ by Smash Head Studios, a 2D action game; ‘World Cricket League’ from Wandermind Labs, offering a 3D multiplayer cricket experience; ‘Hacked: Password Puzzle’ by Pixcell Play, a puzzle game, and ATG Studios’ ‘Laser Tanks’ and ‘Paperly’, both games provide unique gaming experiences across varied genres. Martingale, another exciting title, will also be featured in the upcoming releases.
In addition, the company’s division is dedicated to nurturing close collaborations with game developers from India and globally, for seizing the immense potential of the Indian gaming market. For which the company has allocated funds for publishing, and they aim to publish 20 games within the next 12 to 18 months, investing between Rs. 1 crore to Rs. 3 crores per game.
Coming onto the company’s financial statements, the revenue increased by 17 percent from Rs. 254 crores during the June quarter to Rs. 297 crores in the September quarter. On the other hand, the net profits increased by 14 percent from Rs. 21 crores to Rs. 24 crores during the same timeframe.
The company gets revenue from across the globe, primarily from North America which contributes 39 percent of the revenue, 46 percent of revenue comes from India and the remaining 15 percent of revenue is contributed by the rest of the world. Moreover, the company plans to deploy cash reserves of over Rs. 1,300 Crores for organic growth and strategic M&A.
Headquartered in Mumbai, Nazara Technologies was incorporated in 1999. The company is the leading India-based diversified gaming and sports media platform with a presence in India and across emerging and developed global markets such as Africa and North America, and offerings across interactive gaming, eSports and gamified early learning ecosystems.
Written By Vaibhav Patil
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