EBITDA increased by 10% to Rs 33.1 crore as against Rs 30.0 crore in Q1FY23. EBITDA margin stood at 13% in Q1 FY24.

Nitish Mittersain, founder, CEO & Joint MD of Nazara Technologies stated: “Our EBITDA margin for Q1 stood at 13.0% our revenue and EBITDA growth is expected to accelerate in coming quarters due to seasonality and our decision to defer key esports launches to benefit from upcoming opportunities.

Of note, Sportskeeda continued to deliver a strong performance with a strong 52% growth YoY in revenues and 55% in EBITDA. The recent announcements related to skill-based real money gaming business will have minimal impact on our overall financial performance as its contribution is limited to 4.7% of our revenue and 0.5% of our EBITDA in Q1FY24.

We continue to build a healthy pipeline of M&A opportunities in various segments that we operate in with a focus on adding gaming IPs and strong teams to our platform.”

Nazara Technologies is a diversified gaming & sports media platform with presence in India and across emerging & developed global markets such as Africa and North America. It has offerings across the interactive gaming, eSports, ad-tech and gamified early learning ecosystems including World Cricket Championship (WCC) and CarromClash in mobile games, Kiddopia in gamified early learning, Nodwin, PublishMe and Sportskeeda in eSports and eSports media, OpenPlay, Halaplay and Qunami in skill-based, fantasy and trivia games, and Datawrkz in digital ad-tech.