Rakesh Jhunjhunwala-backed Nazara Technologies on Tuesday witnessed a 92 percent increase in consolidated profit at Rs 9.4 crore for the quarter ended March 31, 2023. The digital gaming and sports platform had logged a profit of Rs 4.9 crore in the corresponding quarter a year ago.

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The company, which counted late Rakesh Jhunjhunwala among its early investors, released the numbers for the March quarter on Tuesday.

Revenue from operations increased by 39 percent to Rs 289.3 crore during the reported quarter from Rs 175.1 crore in the year-ago period.

EBITDA or earnings before interest, taxes, depreciation, and amortization came in at Rs 27.2 crore as against Rs 12.9 crore on-year, while margin rose 9.4 percent as compared to 7.4 percent on-year.

The Nazara Technologies stock jumped more than 9 percent in today's trade to its highest levels in over three months. Earlier today, shares of Nazara Tech rose 9.4 percent to hit an over three-month high of Rs 619.50 on the National Stock Exchange (NSE).

In the gaming firm, Jhunjhunwala’s wife Rekha Rakesh Jhunjhunwala held as much as 10 percent stake as of March-end.

First Published:May 9, 2023 6:54 PM IST