Latest news with #Turkey-focused

Economic Times

Nazara's Q1 net profit up 118%, revenue doubles

Nazara Technologies posted strong growth in the June quarter, with net profit rising 118% to Rs 51.3 crore, compared to Rs 23.6 crore a year earlier, driven by gains across its gaming from operations nearly doubled to Rs 498.8 crore in Q1 FY26 from Rs 250 crore in the year-ago period. Revenue from the gaming segment surged 2.7 times to Rs 240 crore, while the ad-tech business recorded a fourfold jump to Rs 106 crore. 'We are seeing early results from our sharpened focus on IP-led gaming and are reinvesting this momentum into expanding our IP portfolio and strengthening UA (user acquisition) to drive sustained growth. We have also strengthened our leadership team with recent appointments bringing deep expertise in gaming,' said Nitish Mittersain, joint managing director and chief executive officer of Nazara Technologies. While growth was aided by acquisitions such as Fusebox, Animal Jam and Curve Games, expenses surged during the quarter, with total expenditure rising to Rs 521 crore from Rs 240 crore a year earlier, driven largely by advertising and marketing costs, which tripled to Rs 124.75 Mumbai-based company's board has proposed raising the company's authorised share capital from Rs 50 crore to Rs 80 crore, which will require shareholder the authorised share capital raises the maximum value of shares the company can issue in the future, giving it room to raise more equity or issue additional board has approved a stock split, in which each existing share with a face value of Rs 4 will be split into two shares of Rs 2 each, along with a 1:1 bonus issue that will give shareholders one additional Rs 2 share for every share they hold after the company also announced the appointment of Rohit Sharma, founder of mobile video ad platform Pokkt, as a whole-time director, designated as executive July, Nazara said in an exchange filing that it will "de-subsidiarise" Nodwin Gaming, as the esports and events arm raises fresh capital from certain existing shareholders. The funding will dilute Nazara's stake in Nodwin below 50%, reclassifying it from a subsidiary to an associate has been focusing on building and acquiring gaming intellectual properties globally. On April 18, ET reported that Nazara had earmarked Rs 800–1,000 crore this year for acquisitions, targeting studios with established IPs and annual revenue of around Rs 100 May, it acquired UK-based PC and console game publisher Curve Games for Rs 247 crore. Other acquisitions include UK-based Fusebox Games, PokerBaazi parent Moonshine Technology, Comic Con India, West Asia- and Turkey-focused marketing firm Publishme, Singapore-based events company Branded, Turkish esports firm Ninja Global and Paper Boat Apps, the creator of shares rose 1.5% to close at Rs 1,420.9 on the BSE on Tuesday. The results were announced after market hours. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. As 50% US tariff looms, 6 key steps that can safeguard Indian economy As big fat Indian wedding slims to budget, Manyavar loses lustre Why are mid-cap stocks fizzling out? It's not just about Trump tariffs. The airport lounge war has begun — and DreamFolks is losing Stock Radar: UNO Minda eyeing fresh 52-week high in next few weeks; check target and stop loss for long positions Buy, Sell or Hold: Antique recommends buy on Siemens; Avendus upgrades SBI to Buy post June quarter results Stock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 25% Weekly Top Picks: These stocks scored 10 on 10 on Stock Reports Plus