The shares of this smallcap mobile gaming stock were in focus in Tuesday’s trading session after the company announced the acquisition of an additional 6.5 lakh equity shares, in Funky Monkeys, bringing the total stake to 60 percent.
Stock Performance
With a market capitalization of Rs 7,928.11 crore, Nazara Technologies Ltd rose over 2 percent in Tuesday’s trading session and made a high of Rs 939.95 per share compared to its previous closing price of Rs 917.80 per share. The stock reiterated from its day’s high and was trading at Rs 927.25 which is 1 percent higher than the previous closing price.
What Happened
In an exchange filing, the company reported that on February 24, 2025, Nazara Technologies Ltd acquired an additional 6.5 lakh equity shares for a cash consideration of Rs 28.7 crore in Funky Monkeys. This represents a 38.57 percent stake in the company.
With this, Nazara Technologies Ltd now holds a 60 percent stake in Funky Monkeys, which has become a subsidiary of the company.
Company Overview
Nazara Technologies Ltd is India’s leading diversified gaming and sports media platform with a significant global presence across various markets such as North America and Africa. The company offers eSports, interactive gaming, gamified early learning ecosystems, and many more.
Financial Performance
In the latest quarter, Nazara Technologies reported a 65 percent YoY increase in its total revenue from Rs 338 crore to Rs 557 crore. On a quarterly basis, there was a 62 percent increase from Rs 344 crore in Q2 FY25.
However, there was a 54 percent YoY decline in net profits from 30 crore to Rs 14 crore and a 13 percent QoQ decrease from Rs 16 crore in Q2 FY25.
Written by Shwetha Sairam
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