Rakesh Jhunjhunwala owned 10.03% or 65.88 lakh shares at the end of June quarter. Nazara Technologies shares stand higher than the 5-day, 20-day and 50-day moving averages but lower than 100-day and 200-day moving averages. 
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Rakesh Jhunjhunwala owned 10.03% or 65.88 lakh shares at the end of June quarter. Nazara Technologies shares stand higher than the 5-day, 20-day and 50-day moving averages but lower than 100-day and 200-day moving averages. Shares of Rakesh Jhunjhunwala-backed online gaming company Nazara Technologies zoomed 20 per cent today after the firm reported a 22 per cent rise in net profit for the quarter ended June 2022.
Rakesh Jhunjhunwala owned 10.03 percent or 65.88 lakh shares at the end of June quarter. Nazara Technologies stock rose 19.99% to a new high of Rs 636.15 against the previous close of Rs 530.15 on BSE. It closed at the same level today.
The gaming company's stock opened with a gain of 6.76% at Rs 566 against the previous close of Rs 530.15 on BSE.
Nazara Technologies shares stand higher than the 5-day, 20-day and 50-day moving averages but lower than 100-day and 200-day moving averages.
The stock has lost 31.44 percent in a year and fallen 44.53 percent in 2022.
A total of 4.11 lakh shares of the firm changed hands amounting to a turnover of Rs 25.04 crore. The market cap of the company rose to Rs 4,177.25 crore on BSE.
The stock hit a 52-week high of Rs 1,677.20 on October 11, 2021 and 52-week low of Rs 484 on June 22 , 2022.
Consolidated net profit in the June quarter rose to Rs 16.5 crore against Rs 13.5 crore net profit in the corresponding quarter of the previous fiscal.
On a sequential basis, net profit zoomed 237 per cent from Rs 4.9 crore in the March 2022 quarter. Revenue from operations rose 70 per cent to Rs 223.1 crore in Q1 against Rs 1,31.2 crore in the corresponding quarter of the last fiscal.
On a sequential basis, revenue rose 27 per cent from Rs 175.1 crore in the March 2022 quarter. Earnings before interest, taxes, depreciation, and amortization (EBITDA) zoomed 102 per cent on a sequential basis to Rs 30.1 crore in Q1 against Rs 14.9 crore in the March 2022 quarter.
"The multi-pronged approach to capture opportunities has been yielding positive traction and we are in line with our target growth plans for FY23," Manish Agarwal, CEO said.
Agarwal further said the traction across businesses; E-sports and Real Money Gaming witnessed strong growth while the addition of a new growth engine in form of Datawrkz has augmented well for the business. "We have also seen stabilisation of unit economics for Gamified Early Learning business."
The firm is an India-based gaming and sports media platform known for its games on World Cricket Championship, Chhota Bheem and Motu Patlu series.
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