The board of directors of Nazara Technologies has set Monday, June 27, 2022 as the record date for the pro – posed bonus share issue. With its fourth-quarter results, the company’s board of directors approved a one-share bonus for each share held by shareholders.
“It is hereby made aware that the Board of Directors of a Company has fixed Monday, June 27, 2022 as the Record Date,” Nazara Tech said in an exchange filing this week.
Nazara Tech’s bonus issue is subject to shareholder approval, which is obtained via postal ballot and remote e-voting. A company’s bonus shares are fully paid additional shares issued to its existing shareholders.
For the quarter ended March 2022, the digital gaming and sports platform increased its consolidated profit by about 17 percent to 4.9 crore. In the same period last year, the company made a profit of 4.2 crore. Revenue from operations increased by about 42% to 175 crore in the reported quarter, up from 123 crore the previous year.
“I am pleased to report that we have exceeded our revenue and EBITDA guidance for FY22, despite headwinds caused by changes in Apple legislation and government environment in real money gaming in India, as well as the negative impact of COVID-19 in the esports segment,” Nazara Technologies CEO Manish Agarwal stated in the company’s Q4 earnings release.
According to the BSE shareholding pattern, Rakesh Jhunjhunwala, an Indian ace investor and stock market trader, owns 10.10 percent of the gaming tech company as of March 2022.
Due to higher operational costs, the company’s consolidated profit after tax fell 17% year on year (YoY) to Rs 14.8 crore. However, revenue from operations increased by 42% year on year to Rs 186 crore.
Nazara is an India-based diversified gaming and sports writers platform with a presence in India and emerging and developed international markets such as Africa and North America, as well as offerings in interactive gaming, Esports, and gamified early learning ecosystems.
The company owns some of the most recognizable IP such as World cricket Championship, Kiddopia in gamified early learning, NODWIN and Sportskeeda in Esports and Esports media, and Halaplay, Qunami and OpenPlay in skill-based, fantasy and trivia games.
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