Nazara Technologies , a leading gaming and sports media company, has reported robust financial results for the first quarter of fiscal year 2026, demonstrating significant growth across key metrics.

Strong Financial Performance

The company's Q1 FY26 revenue surged by 99% year-on-year to ₹498.80 crore, while EBITDA grew by 90% to ₹47.40 crore. The core gaming business delivered a healthy 24.4% EBITDA margin. Profit After Tax (PAT) from continued operations stood at ₹36.40 crore, with overall PAT reaching ₹51.30 crore, marking a substantial 118% year-on-year increase.

Strategic Deconsolidation of Nodwin Gaming

Nazara announced the strategic deconsolidation of Nodwin Gaming, subject to shareholder approval. This decision aims to sharpen Nazara's focus on core gaming businesses while allowing Nodwin to independently raise growth capital and operate with greater flexibility. Post-deconsolidation, Nazara is expected to hold a stake of approximately 46-47% in Nodwin.

Gaming Segment Performance

The gaming segment showed impressive growth, with revenue increasing by 160% year-on-year and EBITDA growing by 311%. Key contributors to this growth include:

Curve Games

Acquired earlier this year, Curve Games posted revenue of ₹54.60 crore and EBITDA of ₹20.70 crore in Q1 FY26.

Fusebox Games

Revenue grew 49% year-on-year to ₹73.00 crore, with an EBITDA of ₹10.40 crore.

Kiddopia

Reported revenue of ₹45.40 crore and EBITDA of ₹8.50 crore, showing signs of subscriber stabilization.

Animal Jam

Saw a 12.1% increase in revenue to ₹26.40 crore and a robust 55% growth in EBITDA to ₹5.90 crore.

Expansion into Offline Gaming

Nazara has made strategic moves in the offline gaming space:

Smaaash

Acquired through NCLT process, Smaaash delivered revenue of ₹8.10 crore and EBITDA of ₹3.30 crore in the consolidation period starting from June 6th.

Funky Monkeys

Revenue expanded by 6.5% year-on-year to ₹4.90 crore, with plans to add 8-9 new centers this year.

PokerBaazi Performance

Moonshine Technologies, PokerBaazi's parent company (in which Nazara holds a 46% stake), reported its highest quarterly net revenue of ₹191.80 crore. However, it incurred an EBITDA loss due to front-loaded marketing costs related to IPL campaigns.

Future Outlook

Nazara Technologies remains focused on its IP-led gaming strategy and is confident in its ability to scale into a global gaming platform. The company is on track to achieve or surpass its guidance of ₹300.00 crore EBITDA by FY27.

Nitish Mittersain, CEO & JMD of Nazara Technologies, stated, "These results underscore the strength of our IP-led gaming strategy delivering strong topline growth alongside disciplined cost management and a focus on growth with profitability."

As Nazara continues to expand its portfolio and optimize its operations, the company appears well-positioned for sustained growth in the dynamic gaming industry.

Nazara Technologies , a leading gaming and sports media platform, has reported robust financial results for the first quarter of fiscal year 2026, along with several strategic initiatives to strengthen its market position.

Financial Highlights

Nazara Technologies posted impressive year-on-year growth in Q1 FY26:

The company's core gaming business delivered a healthy EBITDA margin of 24.4%.

Strategic Moves

Nazara has announced several key strategic initiatives:

1. Deconsolidation of Nodwin Gaming: Subject to shareholder approval, Nazara proposes to deconsolidate Nodwin Gaming, reclassifying it as an associate. This move aims to sharpen Nazara's focus on core gaming while allowing Nodwin to pursue its esports ambitions independently.

2. Leadership Enhancement: The company appointed Rohit Sharma as Executive Director, bringing over 25 years of experience in gaming and digital media to advance Nazara's IP-driven growth strategy.

3. Shareholder Initiatives: The board has approved a stock split, subdividing one equity share of face value ₹4 into two equity shares of face value ₹2 each. Additionally, a bonus issue in the ratio of 1:1 has been proposed.

Segment Performance

Gaming Segment

• Revenue grew by 160% year-on-year
• EBITDA grew by 311%
• Overall EBITDA margin stood at 24.4%

Curve Games

• Recently acquired Curve Digital Entertainment
• Revenue: ₹54.60 crore
• EBITDA: ₹20.70 crore

Fusebox Games

• Revenue: ₹73.00 crore (49% YoY growth)
• EBITDA: ₹10.40 crore

Kiddopia

• Revenue: ₹45.40 crore
• EBITDA: ₹8.50 crore
• EBITDA margin: 18.6%

Animal Jam

• Revenue: ₹26.40 crore (12.1% YoY growth)
• EBITDA: ₹5.90 crore (55% YoY growth)

Future Outlook

Nitish Mittersain, CEO & JMD of Nazara Technologies, expressed confidence in the company's growth trajectory: "We are seeing the early benefits of our sharpened focus on owning and scaling high-quality gaming IPs. Our Centers of Excellence in user acquisition and analytics are taking shape and will enable us to acquire, retain, and monetize players more efficiently going forward."

The company remains committed to its vision of building a globally relevant and highly respected, durable gaming company from India. With disciplined capital deployment, strong IP ownership, and operational excellence, Nazara aims to scale into a global gaming platform that can compete with the best in the industry.

Conclusion

Nazara Technologies' strong Q1 FY26 results, coupled with strategic initiatives like the proposed deconsolidation of Nodwin Gaming and shareholder-friendly moves, demonstrate the company's commitment to growth and value creation. As the gaming industry continues to evolve, Nazara's focus on IP-led growth and operational excellence positions it well for future success in the global gaming market.