Nazara Technologies reported strong Q3 FY26 and 9M FY26 results, driven by a focus on gaming. Q3 FY26 revenue stood at ₹406 Cr with a 16.7% EBITDA margin. 9M FY26 revenue reached ₹1,431.2 Cr, boasting a 73% YoY EBITDA increase. The company highlights disciplined execution and Centers of Excellence (COE) for improved performance. Kiddopia sees subscriber growth resurgence.
Financial Highlights
Nazara Technologies has announced its financial results for Q3 FY26 and the nine-month period (9M FY26) ending December 31, 2025. Key highlights include:
- Q3 FY26: Revenue of ₹406 Cr, impacted by Nodwin’s deconsolidation but showing a 16.7% EBITDA margin.
- 9M FY26: Revenue reached ₹1,431.2 Cr, demonstrating a 29.7% YoY increase. EBITDA for the same period was ₹177.2 Cr, a significant 73% YoY jump.
Adjusting for the Nodwin deconsolidation, Q3 FY26 revenue grew by 9.8% YoY.
Gaming Segment Focus
The company emphasizes its strategic focus on the gaming sector, which led to a 23.8% and 25.0% gaming EBITDA margin in 9M FY26 and Q3 FY26 respectively. A key contributor to this success is the implementation of Centers of Excellence (COE) across User Acquisition (UA), Data analytics, Growth, and Product development.
Kiddopia’s Resurgence
Kiddopia has demonstrated a strong recovery in subscriber growth, attributed to the effectiveness of Nazara’s COEs. This highlights the positive impact of the operating model.
Other Key Updates
- Multiple game launches across various studios.
- Expansion in offline gaming through Funky Monkeys centers.
AdTech Performance
The AdTech segment also showed positive momentum:
- Q3 FY26: EBITDA increased by 26% YoY.
- 9M FY26: Revenue grew by 86% YoY, and EBITDA increased by 95% YoY.
NODWIN Strategic Review
NODWIN recorded strong revenue growth but also recognized an impairment provision of INR 384 crore in respect of its subsidiary, Freaks 4U Gaming GmbH.
Sportskeeda Optimization
Sportskeeda initiated cost optimization measures in response to Google algorithm updates and is seeing stabilization in MAU levels.
Source: BSE
