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Nazara FY24 EBITDA increases by 16.6% to INR 127.9 Cr, Operating Cash Flow of INR 131.4 Cr

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Nazara Technologies Limited a diversified gaming and sports media platform announced its unaudited Standalone and Consolidated results for the quarter and Fiscal Year ended 31st March 2024.

Key Consolidated Financial Highlights for FY24 are as follows:

Revenue grew by 4.3% to INR 1,138.3 Cr as against INR 1,091.0 Cr in FY23

EBITDA increased by 16.6% to INR 127.9 Cr as against INR 109.8 Cr in FY23

EBITDA margin increased by 110 bps to 11.2% in FY24 from 10.1% in FY23

Operating Cash Flow (pre-taxes) was INR 131.4 Cr in FY24

PAT (from continuing operations) increased by 41.2% to INR 89.5 Cr in FY24 as against INR 63.4 Cr in FY23

PAT including discontinued operations increased by 21.8% to INR 74.8 Cr in FY24 as against INR 61.4 Cr in FY23

Net Cash Balance of INR 1,449 Cr as of March 31, 2024

 

Key Consolidated Financial Highlights for Q4FY24 are as follows:

Revenue of INR 266.2 Cr as against INR 289.3 Cr in Q4FY23

EBITDA increased to INR 29.3 Cr as against INR 27.8 Cr in Q4FY23

EBITDA margin increased by robust 140 bps to 11.0% in Q4FY24 from 9.6% in Q4FY23

PAT (from continued operations) of INR 17.1 Cr as against INR 11.9 Cr in Q4FY24

Commenting on the Q4 & FY24 performance, Nitish Mittersain, Founder, CEO & Jt MD of Nazara Technologies stated:

FY24 has been a year of building a strong foundation for rapid future scaling. We achieved a 4.3% revenue growth and a 16.5% EBITDA growth, with our margin improving by 110 bps YoY to 11.2%. Notably, our Operating Cash Flow increased to INR 131.4 Cr, reflecting the company’s strong underlying performance.

We raised INR 950 crores at Nazara and subsidiaries, our largest fundraise to date, resulting in a net cash balance of INR ~1,450 crores.

Key initiatives from FY24 are set to yield results in the coming year, including our new publishing platform, new game launches through existing studios, IP partnerships, and a strong M&A pipeline. Subsidiaries are also successfully adopting our M&A playbook, with Absolute Sports (Sportskeeda) acquiring Pro Football Network (PFN) in March 2023, doubling PFN business post-acquisition and turning it profitable. Nextwave acquired UTP (a casual card game) in April 2024, and NODWIN Gaming acquired Comic Con India.

We are optimistic about FY25, expecting accelerated growth in both revenue and EBITDA. With substantial cash reserves and a robust M&A pipeline, we are well positioned to seize further growth opportunities and enhance our growth trajectory through strategic M&A over the next 12 months.

We have also announced acquisition of 100% stake in Nextwave Multimedia Private Limited, developers of the popular mobile cricket games under the “World Cricket Championship” franchise.”

The post Nazara FY24 EBITDA increases by 16.6% to INR 127.9 Cr, Operating Cash Flow of INR 131.4 Cr appeared first on European Gaming Industry News.

Akshat Rathee

Indian Esports 2026: Strategic Growth and the Asian Games Milestone

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The Indian esports landscape is transitioning from a period of rapid “spectacle” growth to a phase defined by lasting institutional structure. Following the implementation of the Promotion and Regulation of Online Gaming Act (PROGA), 2026 is set to be the year where regulatory clarity, international competition, and domestic grassroots development converge.

 

The Impact of PROGA: Policy into Practice

The Promotion and Regulation of Online Gaming Act (PROGA), signed into law in August 2025, has officially moved from policy to practice. Its primary contribution to 2026 is the explicit separation of esports from money-based gaming.

  • Legitimacy: By categorizing esports as a legitimate competitive pursuit, PROGA has unlocked state-level adoption and cleared the way for schools and colleges to integrate gaming into their sports frameworks.

  • Commercial Confidence: With a clear regulatory environment, brands in sectors like FMCG, automotive, and BFSI are now viewing esports as a stable, long-term youth engagement platform rather than a risky experiment.

  • Athlete Pathways: PROGA facilitates the creation of standardized national registries for athletes, ensuring that competitive integrity is maintained across grassroots and professional tiers.

The Asian Games 2026: A Global Stage

The Asian Games 2026 in Aichi and Nagoya, Japan, serves as the most critical milestone for the ecosystem this year.

  • Medal Status: Esports will feature as a full medal event with 11 confirmed titles, including League of Legends, PUBG Mobile (Asian Games Version), and Pokémon UNITE.

  • Indian Prospects: India’s best historical result (quarter-finals in League of Legends at Hangzhou) has set a high bar. For 2026, the focus has shifted toward high-performance training camps and long-term athlete mentorship to secure a podium finish.

  • Multi-Sport Integration: Participation alongside traditional athletes reinforces the narrative that esports is a viable professional career, further encouraging government investment through schemes like Khelo India.

Market Evolution and Key Trends

The Indian gaming market is projected to reach approximately $5.02 billion in 2026, driven by a massive player base exceeding 500 million gamers.

Trend Impact in 2026
Mobile Dominance Over 95% of the market remains mobile-first, fueled by 5G expansion and affordable hardware.
Beyond BGMI 2026 is seeing a push to diversify the market into fighting games, sports simulations, and PC titles to avoid “one-title dependency.”
Monetization Shift Revenue is shifting from pure advertising toward battle passes, subscription models, and in-game progression.
Tier II & III Growth Most new user acquisition is coming from smaller cities, demanding more vernacular and localized content.

The post Indian Esports 2026: Strategic Growth and the Asian Games Milestone appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Insurgence Gaming Company Introduces La Imperia, a Community-First All-Female VALORANT Tournament

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La Imperia, a new all-female esports IP by The Insurgence Gaming Company, will make its competitive debut this month with an online VALORANT invitational tournament running from December 19 to 21, 2025. Designed as a visibility-first platform for women competitors, the event brings together four invited Indian teams for a three-day broadcast competition.

La Imperia marks the inaugural tournament by the Insurgence Gaming Company, a newly founded esports company led by Jasper Shabin, who previously served as a poject manager at Skyesports. Positioning itself as a community-first tournament operator, the Insurgence Gaming Company aims to refocus attention on grassroots competition and long-term ecosystem building at a time when entry-level and women-led esports pathways remain limited.

The tournament will be played in VALORANT and feature a round-robin group stage followed by single-elimination playoffs, culminating in a BO5 Grand Final. All matches across the three days will be broadcast live on YouTube, along with additional watch-parties.

The four invited teams competing at La Imperia include Huntrix, Sin Sisters, Plushie Gang and MyKil. All teams feature all-female rosters, aligning with La Imperia’s positioning as a dedicated women’s esports IP.

Broadcast production for the event will be handled by Momentum Gaming, serving as the official Broadcast Partner. The on-air talent lineup includes Star Tania, Nekroz, Odawg, and Hikari Jane, who will guide viewers through the tournament across all three days.

Beyond competition, La Imperia is also placing emphasis on player well-being. Sattva by Pallavi joins the tournament as the Mental Health Partner, integrating conversations around mental health and holistic wellness into the event’s broadcast and content output. The partnership reflects a growing recognition of sustainability and mental resilience within competitive gaming environments.

Speaking on the launch, Jasper Shabin, Founder of The Insurgence Gaming Company, said: “La Imperia is built to be a visibility platform first. There is no shortage of talent in the women’s VALORANT scene, but there are very few consistent stages where that talent can be seen, supported, and taken seriously. With the Insurgence Gaming Company, we want to return focus to grassroots competition and create formats that players can grow with, not just compete in once.”

The tournament carries an INR 15,000 prize pool, with the primary focus placed on competitive exposure, broadcast quality, and long-term ecosystem value rather than one-off incentives.

With its inaugural edition, La Imperia sets the foundation for a new women-led esports property in India—one that combines structured competition, professional broadcast standards, and a community-first philosophy.

The post Insurgence Gaming Company Introduces La Imperia, a Community-First All-Female VALORANT Tournament appeared first on Gaming and Gambling Industry Newsroom.

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IESF Officially Opens the World Esports Championship 2025 in Kuala Lumpur

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The World Esports Championship 2025 (WEC25) is officially open in Kuala Lumpur, welcoming athletes, fans, and delegations from around the globe. With 19 nations taking part in Mobile Legends: Bang Bang (MLBB), this year’s event stands as the most internationally diverse MLBB competition in IESF history.

After a year filled with national and regional qualifiers and preparations from teams around the world, the world’s top esports athletes have arrived in Malaysia’s capital, Kuala Lumpur. The opening ceremony set the tone for the days ahead, offering fans a first glimpse of the excitement and atmosphere surrounding this year’s championship.

“WEC25 reflects the continued growth of esports as a space for connection, competition, and shared passion,” said IESF General Secretary Boban Totovski. “Bringing together 19 nations for MLBB is a milestone not just for the title, but for the entire esports ecosystem. We are proud to bring this edition of the championship to Kuala Lumpur.”

As the competition officially kicks off, the schedule is fully packed with exciting match-ups among Nations, competing for their flag and country. The best from all over the world will have the unique opportunity to become the MLBB World Champion.

IESF extends its gratitude to the Malaysian government and the Ministry for Youth and Sports, partners, athletes, and global supporters who continue to elevate the championship’s reach and impact.

The post IESF Officially Opens the World Esports Championship 2025 in Kuala Lumpur appeared first on European Gaming Industry News.

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