Q4 delivers 95% revenue growth & 74% EBITDA growth YoY
Nazara Technologies Limited reported its highest ever annual EBITDA of INR 153.5 crores in FY25 on revenues of INR 1,624 crores, with its core gaming business delivering a healthy 19.9% EBITDA margin and overall EBITDA margins of 9.4%. This performance reflects the strength of Nazara’s diversified portfolio, disciplined execution, and focused pivot toward high-margin gaming segments. PAT from continued operations was INR 62.5 crores and pre-tax Operating Cash Flow came in at INR 118.3 crores, underscoring the company’s strong cash generation and prudent financial management.
In Q4 FY25, Nazara posted revenue of INR 520.2 crores up 95% year-on-year and EBITDA of INR 51.0 crores, a 74% increase. Growth was driven by solid momentum in the core gaming portfolio, particularly Fusebox and Animal Jam, along with improved unit economics in Kiddopia. Margins remained resilient despite elevated user acquisition investments and new IP integrations.
Key FY25 Strategic Highlights:
- Expanded into narrative mobile gaming through the acquisition of Fusebox Games
- Entered offline entertainment by acquiring Funky Monkeys and Smaaash, creating a 360° gaming ecosystem
- Took full ownership of Kiddopia and Sportskeeda, enabling fungible cash flows and faster integration
- Made its largest investment to date in PokerBaazi, reinforcing leadership in skill-based real money gaming
- Licensed and integrated global IPs like C.A.T.S. and King of Thieves, enhancing long-term cash flow visibility
The company also operationalized its Centers of Excellence in User Acquisition, Analytics, and AI, embedding cross-group efficiencies and unlocking organic scale. FY26 is expected to mark a step-change, with rising contribution from high-margin gaming verticals set to further boost profitability and drive global expansion.
Nitish Mittersain, Jt. Managing Director & CEO, commented:
“FY25 has been a pivotal year in Nazara’s journey—marked by record profitability, deeper control across key businesses, and the successful execution of our Nazara 3.0 strategy. We strengthened our core by fully owning high-performing assets like Kiddopia and Sportskeeda, expanded globally through acquisitions such as Fusebox and Curve Games, and sharpened our focus on building a high-margin, IP-led gaming platform. As we enter FY26, we are poised for accelerated growth with increasing contributions from our core gaming portfolio. Our platform is now stronger, and more globally relevant with a growing presence across North America and Europe, strategic global partnerships, and recognition among the world’s top gaming publishers. Nazara is not just leading the gaming industry in India—it is steadily establishing itself as a rising force on the global gaming stage.”