Results · Consumer Internet & Media

Nazara Q3 revenue falls 24% to Rs 406 crore

By Startup Enthusiast · 3 February 2026

What they do

Nazara Technologies runs gaming, e-sports and ad tech businesses

Its Q3 FY26 operating revenue dropped 24% year-on-year to Rs 406 crore, with net profit down 36% to Rs 9 crore

SBI Mutual Fund sold shares worth Rs 108 crore in the quarter, reducing its stake from 5.78% to 4.55%

Nazara Technologies reported its Q3 FY26 results with operating revenue of Rs 406 crore, down 24% from Rs 535 crore a year ago.
Total revenue including non-operating income was Rs 417 crore, down from Rs 557 crore.
Net profit fell 36% to Rs 9 crore from Rs 14 crore in the same quarter last year.
Total expenses dropped 24% to Rs 402 crore, matching the revenue decline.
Marketing expenses were Rs 109 crore, making up 27% of total costs.
SBI Mutual Fund sold 45,09,360 shares worth Rs 108 crore during the quarter.
The fund's stake fell from 5.78% to 4.55%.

The revenue decline comes after a strong nine-month period where revenue grew 30% to Rs 1,431 crore.
The gaming segment remains the largest contributor at 63% of operating revenue.
The stake sale by a large mutual fund may signal reduced confidence in the stock.

Nazara Technologies operates in gaming, e-sports and ad tech segments.
Its gaming segment generated Rs 257 crore, or 63% of operating revenue.
The ad tech business contributed Rs 115 crore, or 28% of revenue.
The e-sports segment brought in Rs 34 crore, or 8% of revenue.
The company is publicly listed on Indian stock exchanges with a market cap of Rs 10,554 crore (about $1 billion).

SBI Mutual Fund (seller) — A large Indian mutual fund that sold part of its Nazara stake.