Nazara Technologies Ltd. on Tuesday approved a stock split, dividing one share at a face value of Rs 4 each into two equity shares with face value of Rs 2 each.
The company also approved the issuance of bonus shares in the ratio of 1:1, translating to one share with face value of Rs 2 for each existing equity share of 2 each.
The Mumbai-based firm's net profit more than tripled during the quarter ended June 30 of the current fiscal year. Its bottom line jumped to Rs 53.5 crore for the April-June period, compared to Rs 15.9 crore for the same period last year.
Nazara Tech Q1 FY26 Highlights (Consolidated QoQ)
Revenue down 4.1% at Rs 499 crore versus Rs 520 crore.
Net profit up 237% at Rs 53.5 crore versus Rs 15.9 crore.
Ebitda up 37.1% at Rs 47.4 crore versus Rs 34.6 crore.
Margin at 9.5% versus 6.6%.
Nazara's growth was led by strong performances from Fusebox, Animal Jam and Curve Games, according to Chief Executive Officer Nitish Mittersain.
The company is seeing early results from its sharpened focus on IP-led gaming and are reinvesting this momentum into expanding its IP portfolio and strengthening UA to drive sustained growth, Mittersain said. "We have also strengthened our leadership team with recent appointments bringing deep expertise in gaming."
Shares of Nazara Technologies closed 1.37% higher at Rs 1,420.7 apiece on the NSE, compared to a 0.4% fall in the benchmark Nifty. The stock has risen 49.55% in the last 12 months and 40.18% on a year-to-date basis.
Out of the 10 analysts tracking the company, four have a 'buy' rating, two gave 'hold' and as many recommend 'sell', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential downside of 12.1%.
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