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Nazara reports Q4 profit surge despite revenue drop

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Nazara Technologies is India's only listed gaming company with studios and mobile apps

Q4 FY26 net profit rose over 13 times to ₹55.7 Cr while revenue fell 23.5%

Gaming now drives 90% of profits as the company prepares for key acquisitions

Nazara Technologies posted a ₹55.7 Cr net profit in Q4 FY26, up more than 13X year-on-year.
Operating revenue for the quarter fell 23.5% to ₹397.8 Cr from ₹520.2 Cr in the prior year.
Full-year FY26 operating revenue grew 12.6% to ₹1,829 Cr despite the quarterly dip.
Consolidated profit for FY26 reached ₹82 Cr, marking a 60.8% increase from the previous fiscal year.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) hit a record ₹255 Cr for the full year.
Quarterly EBITDA expanded significantly to ₹78 Cr with a margin of 19.5% compared to 9.8% last year.
The standalone entity reported a loss of ₹934 Cr due to large impairment charges on associate investments.
Share price closed at ₹262.95, valuing the company at approximately ₹9,741 Cr.

The revenue decline was impacted by the deconsolidation of subsidiary NODWIN Gaming starting August 2025.
NODWIN Gaming previously contributed significantly to Nazara's consolidated financial figures.
The shift highlights a strategic pivot toward higher-margin direct-to-consumer gaming assets.
Management emphasized that underlying business performance remains strong across key segments.

Nazara operates multiple gaming brands including Fusebox, Kiddopia, and World Cricket Championship.
Fusebox narrative gaming revenue grew to ₹318 Cr in FY26 from ₹260 Cr in FY25.
Kiddopia subscriber base increased slightly to 2.2 Lakh in Q4 FY26 from 2.1 Lakh in Q3.
Human Fall Flat has sold over 58 Mn units globally since its launch.
Funky Monkeys physical centres expanded from 11 to 20 locations by the end of Q4.
The gaming segment now accounts for 90% of total EBITDA, up from 56% in FY25.
The company holds intellectual property rights for several popular casual and puzzle game franchises.
Revenue streams include in-app purchases, subscriptions, and advertising across various platforms.
Nazara focuses on both digital distribution and physical entertainment experiences through its brands.

Acquisition of Bluetile and BestPlay is expected to complete by FY27 subject to regulatory approvals.
The deal will add 17 casual puzzle IPs and 22 Mn monthly active users to the portfolio.
World Cricket Championship 4 public beta is scheduled for mid-May 2026.
The company plans to continue expanding its physical Funky Monkeys centre network.