Nazara Tech slips into Rs 82.5 Cr loss in Q1; Nitish Mittersain steps down as CEO
Beyond these results, the Board is scheduled to meet on August 6, 2026 to consider raising additional funds through the issuance of equity shares or other securities on a preferential basis.
Nazara Technologies, a gaming and sports media platform, disclosed a Q1 loss of Rs 82.47 crore, primarily attributed to share losses from associates and impairment losses in its Real Money Gaming investments. The company's revenue decreased 14% YoY to Rs 428.77 crore, though the core gaming segment grew 14% YoY. Nitish Mittersain resigned as CEO, with Raymond Albaladejo Stauffer, a Google executive and former Bluetile Games and Bestplay Systems founder, set to succeed him.
The board also approved a 100% acquisition of Spanish social gaming platforms Bluetile Games and BestPlay Systems for $303.02 million, increasing their stake in the subsidiary Funky Monkeys Play Center to 68.1%, and approved a loan for Smaaash Entertainment to develop Smaaash 2.0.
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