Nazara Technologies Limited — Investor Meet, 19-08-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Nazara Technologies reported strong Q1 FY26 financial results: revenues ₹498.8 crore (+99% YoY), EBITDA ₹47.4 crore (+90% YoY), and PAT growth of 118%. The core gaming business achieved a 24.4% EBITDA margin.

Key updates include the proposed deconsolidation of Nodwin and a 1:1 bonus issue. PokerBaazi's EBITDA loss was due to significant front-loaded marketing spend, targeting FY27 profitability. Nodwin's loss reflects global expansion and new IP investments. Sportskeeda's revenue dipped from a Google update, with recovery expected. Management is confident in achieving ₹300 crore EBITDA by FY27, focusing on IP ownership and disciplined growth.