New Delhi New Delhi: Domestic gaming and sports media company Nazara Technologies reported a 33 per cent decline in its net profit for the July-September period (Q2 FY25). The company reported a consolidated net profit of Rs 16.24 crore in Q2 FY25, compared to Rs 24.18 crore in the same quarter last year. According to Nazara's financial statements, its profit declined 31 per cent sequentially to Rs 23.62 crore. The company's operating revenue increased by 7 per cent to Rs 318.94 crore as against Rs 297.24 crore in the same quarter last year. The gaming company suffered a loss of Rs 1.86 crore from discontinued operations, compared to a profit of Rs 1.68 crore in the year-ago quarter. According to the financial data, total expenditure increased by 11 per cent to Rs 321.27 crore.

In Q2FY25, the company raised Rs 900 crore through a preferential equity issue from a consortium of investors and also made a significant investment in leading skill-based gaming platform PokerBaazi, apart from its stake in Absolute Sports (Sportskeeda). Expanding and rapidly growing eSports community, Stan acquired a minority stake. The company also announced that its board of directors has approved the merger of Paperbot Apps with Nazara. “The merger of Paperbot Apps with Nazara is an important step in our mission to lead the gamified early learning space,” said Nitish Mittersen, Founder and Managing Director, Nazara Technologies. The move has been geared towards bringing the gaming business into the core entity, so as to provide variable cash flows, which can then be deployed for organic and inorganic growth.”