Nazara Tech up today too!

Nazara Technologies, a mobile gaming company and more importantly for the market, a Jhunjhunwala stock, has been among the top five gainers on the BSE since yesterday. The price today rose almost 15% to an intraday high at Rs.729.50 on the back of a 7.8x surge in volumes.

The market has given it a big thumbs up post its performance for Q1FY23 wherein, it reported an over 22% (YoY) and huge 237% (QoQ) jump in consolidated net profit at Rs.16.5 crore.

This performance was headlined mainly by the 70% (YoY) and 27% (QoQ) rise in revenue at Rs.223 crore.

EBITDA was up 19% (YoY) and 133% (QoQ) at Rs.30 crore. Margins YoY slipped from 19.28% to 13.49% but QoQ it was by a huge 613 bps.