Nazara Tech Q1 Results: Co posts Rs 82.5 crore loss; Nitish Mittersain steps down as CEO
Nazara Technologies reported a net loss of Rs 82.47 crore for the first quarter. Revenue from operations declined 14 percent to Rs 428.77 crore in Q1 FY27. Nitish Mittersain will resign as CEO on September 1, 2026. Raymond Albaladejo Stauffer will...
By PTI |
IANS
Gaming and sports media platform Nazara Technologies has reported a consolidated net loss of Rs 82.47 crore for the first quarter ended June 30.
The company had posted a consolidated net profit of Rs 51.34 crore in the corresponding quarter of the previous fiscal, according to a regulatory filing.
Nazara's revenue from operations stood at Rs 428.77 crore in Q1 FY27, a decline of 14 per cent from Rs 498.77 crore in the year-ago period.
On a sequential basis, revenue grew by 7.8 per cent. In Q4 FY26, the company had posted a net profit of Rs 55.7 crore.
The company announced that Nitish Mittersain has tendered his resignation from the office of Chief Executive Officer (CEO) with effect from September 1, 2026. Mittersain will continue to serve as the Managing Director of the firm.
The company's board has approved the appointment of Raymond Albaladejo Stauffer as the new CEO to succeed Mittersain.
Stauffer, a former Google executive, was the founder of Bluetile Games and Bestplay Systems.
In March 2026, Nazara announced that its UK-based subsidiary would acquire a 50 per cent controlling stake in Spanish social gaming platforms Bluetile Games and BestPlay Systems for USD 100.3 million (about Rs 918 crore).
Nazara's board has now revised terms for the acquisition of Bluetile Games and Bestplay Systems.
The company will now acquire 100 per cent of the share capital of both entities for an aggregate fixed cash consideration of USD 303.02 million (about Rs 2,909 crore).
Furthermore, the board cleared an additional investment of up to Rs 9.9 crore in its subsidiary, Funky Monkeys Play Center, to increase its stake to 68.1 per cent.
It also approved an unsecured loan of up to Rs 24 crore for its wholly-owned subsidiary, Smaaash Entertainment.
The company had posted a consolidated net profit of Rs 51.34 crore in the corresponding quarter of the previous fiscal, according to a regulatory filing.
Nazara's revenue from operations stood at Rs 428.77 crore in Q1 FY27, a decline of 14 per cent from Rs 498.77 crore in the year-ago period.
On a sequential basis, revenue grew by 7.8 per cent. In Q4 FY26, the company had posted a net profit of Rs 55.7 crore.
The company announced that Nitish Mittersain has tendered his resignation from the office of Chief Executive Officer (CEO) with effect from September 1, 2026. Mittersain will continue to serve as the Managing Director of the firm.
The company's board has approved the appointment of Raymond Albaladejo Stauffer as the new CEO to succeed Mittersain.
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Stauffer, a former Google executive, was the founder of Bluetile Games and Bestplay Systems.
In March 2026, Nazara announced that its UK-based subsidiary would acquire a 50 per cent controlling stake in Spanish social gaming platforms Bluetile Games and BestPlay Systems for USD 100.3 million (about Rs 918 crore).
Nazara's board has now revised terms for the acquisition of Bluetile Games and Bestplay Systems.
The company will now acquire 100 per cent of the share capital of both entities for an aggregate fixed cash consideration of USD 303.02 million (about Rs 2,909 crore).
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Furthermore, the board cleared an additional investment of up to Rs 9.9 crore in its subsidiary, Funky Monkeys Play Center, to increase its stake to 68.1 per cent.
It also approved an unsecured loan of up to Rs 24 crore for its wholly-owned subsidiary, Smaaash Entertainment.
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