Gaming firm Nazara posts Q1 loss; Nitish Mittersain steps down as CEO
Nazara Technologies reported a revenue decline and net loss for the June quarter. The company announced founder Nitish Mittersain will step down as CEO. Raymond A. Stauffer will take over as the new chief executive officer. Nazara also revised terms for its acquisition of Bluetile Games and BestPlay. The gaming firm raised funds earlier this year to support its acquisition strategy.
Nazara Technologies, an online gaming company, reported a Q1 loss of Rs 82 crore for the quarter ended June 30, 2026, down from a profit of Rs 36 crore in the same period last year. The decline was largely due to the deconsolidation of Nodwin Gaming, where the company reduced its stake in the esports company in August 2025. Despite the loss, gaming and adtech remained the company's growth drivers, with revenue from gaming rising 14% year-on-year to Rs 275 crore and adtech revenue increasing 19% to Rs 126 crore.
CEO Nitish Mittersain announced his departure from the company as of September 1, 2026, but will continue to serve as managing director. He will be succeeded by Raymond A. Stauffer, who was appointed as the new CEO, bringing in deep international operating experience to lead day-to-day execution across the group.
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