Nazara Technologies Reports Record Q2 FY27 Revenue of ₹803 Crore

Nazara Technologies Limited reported its highest quarterly revenue of ₹803 crore in Q2 FY27, a 53% year-on-year increase. EBITDA rose 93% to ₹120 crore, while the EBITDA margin improved by 311 basis points to 14.9%, supported by gaming growth and the consolidation of Blue Ones from 1 August 2026.

What were Nazara's Q2 FY27 financial results?

Nazara reported record revenue of ₹803 crore for Q2 FY27, up 53% year on year. The company said EBITDA increased 93% to ₹120 crore, and its EBITDA margin expanded by 311 basis points to 14.9% during the quarter.

Profit after tax from continuing operations was ₹35 crore, compared with a loss of ₹34 crore in Q2 FY26. The movement to profit from continuing operations was one of the key changes in the quarterly performance disclosed on the earnings call hosted by PL Capital.

The figures were presented by management as a record quarter for Nazara. The company attributed the period's position in part to its evolution into a global gaming platform, while the call did not provide a separate financial contribution from each business within the consolidated portfolio.

Why did Nazara's reported revenue rise in the quarter?

Nazara said Q2 FY27 was the first quarter that included Blue Ones on a consolidated basis from 1 August 2026. This change formed part of the reported quarterly revenue base alongside growth in the gaming business.

Gaming revenue grew 122% year on year to ₹656 crore. The segment accounted for 82% of consolidated revenue and delivered an EBITDA margin of 21.5%, according to management's opening remarks. These figures make gaming the largest disclosed contributor to the company's quarterly revenue.

Management described the quarter as a step in Nazara's development as a global gaming platform. However, the transcript did not disclose Blue Ones' standalone revenue, profitability, acquisition terms, or the precise share of quarterly growth linked to its consolidation.

How did Nazara perform in the first half of FY27?

Nazara reported revenue of ₹1,232 crore for the first half of FY27, representing growth of 20% year on year. EBITDA for the six-month period rose 52% to ₹166 crore.

The first-half numbers provide context for the Q2 performance, which included the first consolidation of Blue Ones from August. Q2 revenue of ₹803 crore represented a substantial portion of the ₹1,232 crore reported for the first six months, although the company did not provide a quarter-by-quarter reconciliation in the available call extract.

The margin improvement in Q2 is notable because EBITDA growth exceeded revenue growth. Still, the disclosed information does not specify whether the improvement reflected changes in business mix, operating costs, consolidation accounting, or other factors.

Who addressed the Q2 FY27 earnings call?

Nazara's Q2 FY27 earnings call was hosted by PL Capital and included senior management representatives. The participants named in the transcript were Raymond Ster, CEO; Mitsun Sachiti, Executive Director; Arun Agarwal, CFO; and Anupria Das, Head of Corporate Development.

Raymond Ster said the quarter marked a key stage in the company's evolution into a global gaming platform. The management team also indicated that the leadership transition was more or less complete, with Raymond leading as CEO and Arun as CFO.

The available transcript excerpt did not contain further guidance, capital-allocation targets, or projections for future quarters. It also did not provide commentary on Nazara's share-price movement, customer metrics, or operational targets following the Blue Ones consolidation.

What does the Q2 FY27 performance mean for investors?

Nazara's reported data shows higher revenue, faster EBITDA growth and a return to profit after tax from continuing operations in Q2 FY27. Gaming was central to the result, generating ₹656 crore of revenue and representing 82% of consolidated revenue.

For investors, the inclusion of Blue Ones from 1 August 2026 is important when comparing the latest quarter with earlier periods. Consolidation can change the reported revenue base, and the available call extract does not separate organic growth from the impact of Blue Ones.

The company had previously reported ₹1,624 crore in FY25 revenue and ₹153.5 crore in EBITDA, based on an earlier earnings-call transcript. The Q2 FY27 result therefore comes after a period in which Nazara had already emphasised its core gaming business, but the current transcript does not offer a revised annual outlook.

Conclusion

Nazara's Q2 FY27 results showed record revenue of ₹803 crore, a 93% increase in EBITDA to ₹120 crore and a ₹35 crore profit after tax from continuing operations. Gaming remained the principal disclosed business driver, while the first-time consolidation of Blue Ones also affected the reported quarterly base.

The next point to watch is how Nazara presents subsequent periods after Blue Ones has been included for a full comparable quarter. Management did not disclose a financial target or outlook in the available transcript, leaving the mix of organic gaming growth and consolidation effects unresolved.