Gaming and esports company Nazara Technologies has swung back to profit, reporting a net profit of Rs 35.36 crore in the second quarter of FY27, against a loss of Rs 33.9 crore in the same quarter last year. Revenue from operations hit a record quarterly high of Rs 803 crore, up 53% year-on-year, in results published on 26 October 2026.
EBITDA grew 93% to Rs 120 crore, with the margin expanding to 14.9%. The gaming segment did almost all the work: gaming revenue grew 122% to Rs 656 crore, contributing 82% of total revenue, while mobile gaming revenue surged 167% to Rs 550 crore.
Acquisitions, not just organic growth
Much of the jump came from consolidation. Bluetile Games and BestPlay Systems, consolidated from 1 August 2026, contributed Rs 329 crore of revenue in their first two months as part of Nazara, with EBITDA up 64%. Organic growth in the existing gaming studios was still solid, at 11% for revenue and 17% for EBITDA.
Chief executive Raymond A. Stauffer, who took over as CEO on 15 September, said the quarter demonstrated the company it is building: a portfolio of high-quality games on a single, shared platform. The results come weeks after founder Nitish Mittersain stepped down from his executive role in a wider leadership reshuffle at one of India's oldest gaming firms.
Why it matters for founders
Nazara's quarter shows both sides of acquisition-led growth: it can transform the top line in a single quarter, but the organic number, 11%, is the one that tells you whether the underlying studios are healthy. Founders eyeing roll-ups should report both, and judge themselves on both.