Nazara Technologies is ready to invest big in the Indian esports arena. The company is India’s first listed pure-play gaming brand. Its revenue from the esports sector has doubled in the last year. It acquired Publishme, a Turkish company, in June 2021 and expects this acquisition will boost its prospects even further.
Billionaire investor Rakesh Jhunjhunwala is among the company’s backers. Esports is one of the fastest growing segments for the company. The category mainly refers to video game competitions and tournaments mainly played by amateurs and professionals.
According to a CLSA report, it was estimated that esports is a $100 million market which is about 10% of the bigger mobile gaming industry which is worth close to $1.2 billion. The esports market will soon see a slugfest among major brands like Mobile Premier League (MPL), Dream11, Paytm First Games, and Jio.
However, Nazara will soon enter the market with a bigger force and is ready to challenge these top brands. The company’s revenue from the esports vertical for 2021, now stands at ₹53.2 crore which is a two-fold spike. As of now, approximately ₹2 out of every ₹5 rupee of their profit comes from the esports vertical.
A 45% surge in total revenue was reported by Nazara which bumped up its total earning to ₹131 crore. It had a net profit of ₹13.5 crore for the April-June 2021 quarter. Whereas in the same period last year, it reported ₹21.7 crore loss.
Just today (2 August) at 11:20 AM, Nazara’s Technologies shares went up by 3%. It debuted on the stock exchange earlier this year at a price of ₹1,990—over 80% premium on the issue price of ₹1,100.
Donna Amo was a writer at Gutshot Magazine. She is a graduate from Sophia College of Women, Mumbai with a degree in English Literature. When this October born foodie is not writing content or poetry, she spends her time laughing at memes or watching series. Based out of Mizoram, she is drawn to all things nature and has a soft spot for puppies.