The collaboration aims to drive innovation in gaming, interactive media, gamified learning, and other digital content
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The increase in profitability is mostly due to strong success in the esports sector, despite a decline in gaming revenues and persistent losses in the ad-tech business
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Last month, Nazara acquired additional 48.42 per cent stake in Paper Boat Apps (PBA) for Rs 300 crore
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However, for the entire year 2024, revenue grew by 4.3 per cent to Rs 1,138.3 crore, compared to Rs 1,091.0 crore in FY23. PAT (from continuing operations) increased by 41.2 per cent to Rs 89.5 crore in FY24 as against Rs 63.4 crore in FY23
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The company had previously acquired a majority stake in Nextwave in 2018 and further increased its stake by 71.88 per cent in May 2023
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