Nazara Technologies profits grows multi-fold in Q4 of FY26, founder bullish on FY27

Gaming company Nazara technologies reported a multi-fold growth in net profit to ₹ 55.7 crore in the March-ending quarter of FY26, owing to significant growth in the gaming sector. Revenue from operations dipped 23.5 per cent to ₹398 crore due to the deconsolidation of real-money gaming arm NODWIN after the gaming regulation.

For the entire FY26, profit grew 61 per cent to ₹81.9 crore while revenue grew 12.6 per cent to ₹1,829 crore. EBITDA grew 66 per cent to ₹255 crore. For the quarter, EBITDA margins went up 19.5 per cent, nearly 970 basis points year-on-year. Nazara generated a pre-tax OCF of ₹213 crore up 81 per cent annually, driven by an 84 per cent EBITDA to OCF conversion ratio. Sequentially, profit spiked up while reveue dipped two per cent post-Nodwin deconsolidation that generated a revenue of arond ₹150 crore. The company recorded quarterly EBITDA of ₹ 78 crore, a year on year growth of 52 per cent.

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“Nazara today operates at a materially different scale than it did 12 months ago. Operating leverage is real, and it is compounding. The years ahead are about scaling this platform globally. FY27 is the year that Nazara really achieves respectable scale,” said Nitish Mittersain, Joint MD & CEO of Nazara Technologies.

Acquition impact

Speaking about his recent ₹918 crore acquisition of Bluetile Games and BestPlay, Mittersain said the company is looking forward to the integration of its AI capabilities while keeping both platforms separate for the next fiscal year. The company will offer some of its games on both platforms. The company expects the closing to happen over the next month.

“You will see a good impact of Bluetile as its scale is almost the same as Nazara. So Nazara’s revenue and EBITDA are expected to more than double in FY27,” said Mittersain, expecting the acquisition to be EPS-accretive from the get-go.

When asked, the company said it plans to carry out similar acquisitions in the future. Nazara is converging toward a globally diversified gaming platform across mobile, PC & console, and offline gaming, with exposure spanning India, North America and Europe.

Vertical performance

EBIDTA contribution from Gaming increased from 56 per cent in FY25 to 90 per cent in FY26 as the company refocused on its high margin, core gaming business. Mittersain added that while e-sports has been doing well, the deconsolidation from Nodwin impacted the vertical performance. He added that while Nodwin is considering an IPO, Nazara may sell or exit the business altogether.

Nazara announced the appointment of Mithun Sacheti, Founder of CaratLane, as a Non-Executive Director and Muraarie Rajan as an Independent Director on its Board. Sancheti will looks consumer brand-building experience, while Rajan will oversee global M&A and strategic advisory.

Published on May 12, 2026