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Nazara FY24 EBITDA increases by 16.6% to INR 127.9 Cr, Operating Cash Flow of INR 131.4 Cr

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Nazara Technologies Limited a diversified gaming and sports media platform announced its unaudited Standalone and Consolidated results for the quarter and Fiscal Year ended 31st March 2024.

Key Consolidated Financial Highlights for FY24 are as follows:

Revenue grew by 4.3% to INR 1,138.3 Cr as against INR 1,091.0 Cr in FY23

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EBITDA increased by 16.6% to INR 127.9 Cr as against INR 109.8 Cr in FY23

EBITDA margin increased by 110 bps to 11.2% in FY24 from 10.1% in FY23

Operating Cash Flow (pre-taxes) was INR 131.4 Cr in FY24

PAT (from continuing operations) increased by 41.2% to INR 89.5 Cr in FY24 as against INR 63.4 Cr in FY23

PAT including discontinued operations increased by 21.8% to INR 74.8 Cr in FY24 as against INR 61.4 Cr in FY23

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Net Cash Balance of INR 1,449 Cr as of March 31, 2024

 

Key Consolidated Financial Highlights for Q4FY24 are as follows:

Revenue of INR 266.2 Cr as against INR 289.3 Cr in Q4FY23

EBITDA increased to INR 29.3 Cr as against INR 27.8 Cr in Q4FY23

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EBITDA margin increased by robust 140 bps to 11.0% in Q4FY24 from 9.6% in Q4FY23

PAT (from continued operations) of INR 17.1 Cr as against INR 11.9 Cr in Q4FY24

Commenting on the Q4 & FY24 performance, Nitish Mittersain, Founder, CEO & Jt MD of Nazara Technologies stated:

FY24 has been a year of building a strong foundation for rapid future scaling. We achieved a 4.3% revenue growth and a 16.5% EBITDA growth, with our margin improving by 110 bps YoY to 11.2%. Notably, our Operating Cash Flow increased to INR 131.4 Cr, reflecting the company’s strong underlying performance.

We raised INR 950 crores at Nazara and subsidiaries, our largest fundraise to date, resulting in a net cash balance of INR ~1,450 crores.

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Key initiatives from FY24 are set to yield results in the coming year, including our new publishing platform, new game launches through existing studios, IP partnerships, and a strong M&A pipeline. Subsidiaries are also successfully adopting our M&A playbook, with Absolute Sports (Sportskeeda) acquiring Pro Football Network (PFN) in March 2023, doubling PFN business post-acquisition and turning it profitable. Nextwave acquired UTP (a casual card game) in April 2024, and NODWIN Gaming acquired Comic Con India.

We are optimistic about FY25, expecting accelerated growth in both revenue and EBITDA. With substantial cash reserves and a robust M&A pipeline, we are well positioned to seize further growth opportunities and enhance our growth trajectory through strategic M&A over the next 12 months.

We have also announced acquisition of 100% stake in Nextwave Multimedia Private Limited, developers of the popular mobile cricket games under the “World Cricket Championship” franchise.”

The post Nazara FY24 EBITDA increases by 16.6% to INR 127.9 Cr, Operating Cash Flow of INR 131.4 Cr appeared first on European Gaming Industry News.

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SuperGaming introduces 4v4 Team Deathmatch in Indus Battle Royale; game surpassed 11 million pre-registrations

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SuperGaming, India’s leading game developer based in Pune, has announced the launch of Team Deathmatch (TDM) mode for its upcoming homegrown game, Indus Battle Royale. This latest gameplay feature follows Indus’ recent feat of surpassing 11 million pre-registrations on the Google Play Store for Android.
The TDM mode introduces a 4v4 gameplay experience set in the brand-new map called Saaplok. Unlike the traditional battle royale format, TDM offers an adrenaline-pumping environment where players will respawn after getting eliminated, ensuring continuous action and engagement. The first squad to collectively reach 50 kills will be declared the winner.
Additionally, weapon sway, crosshair centering, and muzzle VFX have all been reworked for a more dynamic and immersive experience. To further enhance player satisfaction, achievements and kill confirmations have been visually revamped, while a brand-new UI widget called “ferrofluids” has been introduced. This innovative widget not only accurately conveys the direction, intensity, and count of weapon fire and self-inflicted damage, but also boasts a stylish design unlike anything seen in the genre.
Sharing his enthusiasm for the latest gameplay mode addition to Indus Battle Royale, Roby John, CEO and Co-Founder of SuperGaming stated“We are thrilled to introduce the Team Deathmatch mode in Indus Battle Royale. With TDM, players can expect a pulse-pounding experience that combines fast-paced action with strategic gameplay. The support from our community has fueled our development efforts, and we are confident that our players will embrace TDM and the new dimension that it brings to the game.”
Players can expect a complete audio overhaul, featuring dynamic voice lines, impactful interior reverb during combat, and a thrilling new endgame track complete with unique sound effects for victory and defeat. Weapon handling has also received a significant upgrade, with gun responsiveness now visible during sliding maneuvers and while firing.
To intensify combat, TDM will offer four pre-made weapon load-outs for players to choose from. Catering to various playstyles, these load-outs will prevent any single weapon or combination from becoming overpowered, bringing balance and a competitive edge to the gameplay.
The weapon load-outs for Indus Battle Royale TDM will be as follows:
  • ● A27 Locust (Assault Rifle) & Judgement (Handgun)
  • ● Devastator (Light Machine Gun) & R4-FTR (Handgun)
  • ● V – Fury (Submachine Gun) & Kismet CS10 (Shotgun)
  • ● Tempest CFA (Submachine Gun) & Vigil SR-14 (Semi-Automatic Sniper Rifle)
The addition of TDM will cater to both casual players seeking fast-paced action and competitive gamers looking for team-based challenges, or even for squads looking for a quick warm up prior to a battle royale match. It will not only diversify gameplay within the Indus universe but also broaden the game’s appeal to a wider gaming community eager for multiplayer modes.

The post SuperGaming introduces 4v4 Team Deathmatch in Indus Battle Royale; game surpassed 11 million pre-registrations appeared first on European Gaming Industry News.

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NODWIN Gaming announces BGMS Season 3; India’s premier esports tournament to return on Star Sports

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NODWIN® Gaming, South Asia’s leading gaming and esports company has announced the highly anticipated third edition of India’s premier esports event – BGMI Masters Series (BGMS). The tournament will be televised live on India’s leading sports broadcaster Star Sports for the third consecutive year.

BGMS Season 3 will witness India’s top 24 teams competing in one of the nation’s biggest Battlegrounds Mobile India (BGMI) tournaments scheduled from July 19 to August 11.

Sharing his enthusiasm, Akshat Rathee, Co-Founder and Managing Director of NODWIN® Gaming expressed, “Being the biggest esports IP in India, BGMS has been a cornerstone of esports action in the country since its inception two years ago. This edition marks a significant milestone for us as BGMS returns to a major sports TV network like Star Sports, for the third time, offering unparalleled visibility to esports talent & associated brands on mainstream television. Our team has always strived to deliver top-tier esports experiences and will leave no stone unturned in leveraging our years of expertise in the production and broadcast space to bring the best of the best esports action on television once again. Together, with the incredible team at Star Sports, we are committed to cementing esports’ status as a mainstream sport amongst the masses, and eagerly anticipate an exciting season ahead.”

The tournament has continued its association with TVS Raider, the sporty commuter motorcycle from TVS Motor Company as the Official Mobility Partner, and Philips OneBlade, the male grooming product of Philips India as the competition’s Official Styling Partner.

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“We are thrilled to announce the third season in partnership with a plethora of remarkable brands, who share our collective vision to nurture esports talent across the country. The involvement and support of leading brands highlights the growing youth base of this new-age sport, and how BGMS is positioned to reach out and capture the largest market share of this growing audience.” he further added.

The previous season of BGMS garnered a remarkable viewership on the Star Sports Network, underscoring its growing popularity and appeal amongst audiences throughout the nation. As the tournament returns for a third consecutive year on Star Sports, it reaffirms its position as a linchpin of India’s esports calendar.

“Star Sports has always been committed to bringing the best of sports entertainment to its viewers. The rapid rise of esports in the country has made it an exciting addition to our portfolio, tapping into a wide demographic of tech-savvy younger generation. Having accumulated monumental viewership for the past two seasons, BGMS has not only helped us showcase the best of esports action but also to bridge the gap between traditional sports and esports in India. With the invaluable support of NODWIN® Gaming, we look forward to another high-octane season this year, offering unparalleled BGMI action to our viewers,” said Vikram Passi, Head – Marketing, Star Sports Network.

NODWIN® Gaming, alongside each of the partner brands, will play a pivotal role in making BGMS Season 3, a premium esports experience for fans across the nation, setting new benchmarks in Indian esports.

The post NODWIN Gaming announces BGMS Season 3; India’s premier esports tournament to return on Star Sports appeared first on European Gaming Industry News.

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Max Level bags PR mandates of India’s gaming powerhouses NODWIN Gaming and SuperGaming

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Max Level’s deep expertise in gaming and esports will enhance the industry standing of NODWIN Gaming and SuperGaming through innovative PR and communication strategies,

Max Level, India’s premier marketing and PR agency crafted by gamers for gamers, has secured the PR mandates of two of the nation’s leading gaming and esports companies, NODWIN Gaming and SuperGaming.

Established in 2014, NODWIN Gaming is a leading South Asian gaming and esports company and a key subsidiary of Nazara Technologies Ltd. The company has expanded its footprint across South Asia, Singapore, the Middle East, and Turkey, specializing in the development and monetization of gaming and esports intellectual properties such as leagues, tournaments, and reality shows.

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NODWIN Gaming has played a pivotal role in the evolution of esports into a mainstream phenomenon in India, pioneering the industry and engaging the youth demographic to spearhead the digital entertainment revolution.

Gautam Virk, Co-founder and CEO NODWIN Gaming said, “NODWIN Gaming has always strived to consistently innovate and push the boundaries in the esports, lifestyle and entertainment domains, and partnering with Max Level as our PR and communications partner aligns seamlessly with our overarching vision. Having worked closely on numerous projects in the past, we are confident that Max Level’s strategic approach and deep understanding of the gaming and esports industry will significantly bolster our brand presence.

This partnership will enable us to achieve brand advocacy among a diverse audience of esports enthusiasts, gamers and other industry stakeholders alike”

SuperGaming is a Series-A funded game developer, building India’s gaming revolution. Known for building popular titles including MaskGun, Battle Stars, they are currently building Indus, an Indo-futuristic Battle Royale, which is one of the most ambitious games from the country till date and has 11 million pre-registrations and counting.

“At SuperGaming, we are committed to revolutionizing the gaming industry in India and beyond, and working alongside Max Level as our official PR partner marks a step forward in our journey. Their deep-rooted understanding and extensive experience in the gaming and esports ecosystem makes them an ideal partner to elevate our brand presence and together, we aim to put India on the global gaming map,” commented Roby John, CEO and Co-founder at SuperGaming.

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Max Level is a holistic marketing and PR agency founded by gamers, specializing in comprehensive B2B services tailored for gaming and esports audiences. As the official PR and communication partner of NODWIN Gaming and SuperGaming, Max Level will leverage its expertise to curate innovative and impactful PR strategies that not only resonate with gaming audiences but also establish deeper engagement, and accelerate brand growth.

“We are thrilled to be named the official PR and communication partner of two prominent entities in the gaming and esports industry in India. We have built Max Level over a decade from the ground up with a deep understanding and passion for the gaming culture. We will extend this expertise to amplify the voices of these iconic brands. As a leading agency working with many top brands, our objective is to continue collaborating with more companies and organizations in India and globally to tell their stories and contribute to their overall growth,” said Siddharth Nayyar, Chief Revenue Officer at Max Level.

With the addition of NODWIN Gaming and SuperGaming to its diverse portfolio which includes esteemed brands such as KRAFTON, Saudi Esports Federation, ESL Faceit Group, ASUS ROG, Jio Games, TVS, HyperX and more, Max Level strengthens its foothold in the Indian gaming and esports industry.

 

The post Max Level bags PR mandates of India’s gaming powerhouses NODWIN Gaming and SuperGaming appeared first on European Gaming Industry News.

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