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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.

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S8UL’s League of Legends roster qualifies to represent India at Asian Games 2026

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S8UL Esports’ League of Legends roster has qualified to represent India at the Asian Games 2026 in Aichi-Nagoya, Japan, running from September 19 to October 4. The organisation said the team secured qualification through the regional qualifiers after winning the National Esports Championships (NESC) 2026, described as the official national qualification tournament for the Asian Games.

S8UL said the roster competing under India’s banner is Akshaj Shenoy (Kat Bot), Aakash Shandilya (Infi), Sanindhya Malik (Deadcorporal), Mihir Ranjan (Lotus), Ahmed Shahid (Nero), and Rahul Bisht (Bob). The regional qualifiers featured 14 teams across a group stage and a split stage, with top performers advancing to the Asian Games main event.

In Group B, the team went unbeaten against Jordan, Sri Lanka, and Kazakhstan to progress, according to S8UL. In the split stage, it lost to Vietnam, Hong Kong, and Saudi Arabia but did enough to secure a berth. India will now face opponents including Japan, Chinese Taipei, and Vietnam at the main event.

Four players—Kat Bot, Infi, Deadcorporal, and Lotus—were also part of India’s League of Legends contingent at the Hangzhou Asian Games 2023, where S8UL said the team finished fifth.

Akshaj Shenoy aka Kat Bot, captain of India’s League of Legends team, said, “Qualifying for the Asian Games is a proud moment for all of us. We knew the regional qualifiers would be extremely competitive, and every match demanded complete focus. For many of us, this will be our second Asian Games, which makes this qualification even more special because we understand the level of competition that awaits us. We are grateful to S8UL for believing in this roster and providing us with the support, stability, and opportunities needed to keep improving as a team. Representing India is always an honour, and we’ll do everything we can to make the country proud in Aichi-Nagoya.”

S8UL co-founder and CEO Animesh Agarwal aka 8Bit Thug added, “Representing India at the Asian Games is among the highest honours an athlete can achieve, and seeing our League of Legends roster earn that opportunity is incredibly special. This team has demonstrated resilience, discipline, and a willingness to continually improve, qualities that are essential for success at the international level. At S8UL, our goal has always been to create pathways for Indian athletes to compete on the biggest stages in the world. We have no doubt they will give their all when they step onto the stage in Aichi-Nagoya and compete for the nation with pride,” S8UL also noted that Gurashish Singh (Soul) and Prateek Bhaunt (B Haunt) previously qualified for the Asian Games in Tekken 8 and Street Fighter 6 after winning at NESC 2026.

The post S8UL’s League of Legends roster qualifies to represent India at Asian Games 2026 appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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PAGCOR Sends Food Packs to Help Victims of Mindanao Earthquake

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The Philippine Amusement and Gaming Corporation (PAGCOR) dispatched 10,500 food packs to help families affected by the massive earthquake in Mindanao.

The agency’s Chairman and CEO, Alejandro H. Tengco, explained that such assistance will help affected families cope with the challenges brought about by the disaster.

“During times of calamity, we assure our kababayans that PAGCOR is always ready to provide help. We hope and pray that affected individuals and families will soon be on their way to recovery and normalcy,” Tengco said.

According to PAGCOR, the relief food packs will be distributed in General Santos City; Mati City, Davao Oriental; the Office of Civil Defense in Region XII; and the 2nd District of Davao Oriental.

A total of 3000 food pails will be allocated each for General Santos City, Mati City, and the OCD – Region XII; while 1500 food pails will be distributed in the 2nd District of Davao Oriental through the office of Rep. Cheeno Almario, the agency added.

The magnitude 7.8 earthquake hit offshore Maasim, Sarangani on 8 June, with more than 173,000 families affected and many provinces still reeling from loss of life, destruction and continuing aftershocks.

The post PAGCOR Sends Food Packs to Help Victims of Mindanao Earthquake appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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Mitrabha Guha qualifies for Esports Nations Cup 2026 Chess alongside Nihal Sarin

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Grandmaster Mitrabha Guha has secured India’s second Chess slot for the Esports Nations Cup (ENC) 2026 after topping the regional qualifier, completing the country’s two-player contingent alongside Grandmaster Nihal Sarin. The ENC 2026 Finals are set for Riyadh, Saudi Arabia, with Chess scheduled from November 2 to 8, 2026.

ENC 2026 Chess will feature 128 players competing for a USD 600,000 (~INR 5.7 crore) prize pool. The format starts with a round-robin group stage across 16 groups of eight players, before 64 players advance to a single-elimination playoff bracket, culminating in the final on November 8.

According to the release, 64 of the 128 players received direct invitations via the official Champions Chess Tour (CCT) rankings, with representation spanning 64 countries and territories. Confirmed names include Magnus Carlsen, Jan-Krzysztof Duda, Alireza Firouzja and Hikaru Nakamura. The field also includes Alexandra Kosteniuk and Mai Narva, described as the first women to officially qualify for the event. A further 61 players qualified through Chess.com-operated regional qualifiers, with three wildcard slots rounding out the field.

India’s second slot was determined through the Middle East, India, and Central Asia pathway, which began with an open nine-round Swiss event for verified titled players under a 10+0 rapid time control, followed by a double-elimination bracket. Guha finished the Swiss stage as the only unbeaten player (six wins, three draws), then defeated Syria’s Malek Koniahli and Iran’s Artin Ashraf in the upper bracket to clinch qualification.

Speaking about his qualification, Grandmaster Mitrabha Guha said, “The regional qualifier was challenging from start to finish. Chess has become an increasingly important part of the global esports ecosystem, and the Esports Nations Cup is a great reflection of that growth. The tournament will bring together some of the strongest players from around the world, so preparation will be key. Over the coming months, my focus will be on refining different aspects of my game and ensuring I am ready to perform at my highest level when the competition begins”

Beyond Chess, NODWIN Gaming, identified as India’s National Team Partner for ENC 2026, has announced national team rosters for DOTA 2, MOBA Legends: 5v5! and Rocket League, with regional qualifier windows listed as June 29-July 1 (DOTA 2), August 15-16 (MOBA Legends: 5v5!, if India misses a direct invite), and July 17-19 (Rocket League).

The post Mitrabha Guha qualifies for Esports Nations Cup 2026 Chess alongside Nihal Sarin appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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