{
  "id": 118825,
  "title": "Nazara Tech slips into Rs 82.5 Cr loss in Q1; Nitish Mittersain steps down as CEO",
  "url": "https://urgent.news/2026/08/04/nazara-tech-slips-into-rs-82-5-cr-loss-in-q1-nitish-mittersain-steps",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-04T06:11:07.000Z",
  "source": {
    "name": "YourStory",
    "slug": "yourstory",
    "url": "https://yourstory.com/2026/08/nazara-tech-slips-into-82-cr-loss-in-q1-nitish-mittersain-steps-down-as-ceo"
  },
  "original_language": "en",
  "account": "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.",
  "summary": "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.",
  "key_points": [
    "Nazara Technologies reported a Q1 loss of Rs 82.47 crore",
    "CEO Nitish Mittersain resigned, Raymond Albaladejo Stauffer to succeed",
    "Company acquired Bluetile Games and BestPlay Systems for $303.02 million"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}