Nazara Technologies shares rose to a day high of Rs 407.75 on 27 October, up 2%, after the gaming firm swung to a Rs 35.4 crore Q2 profit.

On Monday evening, the company officially submitted its financial results for the second quarter (July–September). It made a consolidated net profit of Rs 35.4 crore, against a loss of Rs 82.5 crore in the April to June quarter and a loss of about Rs 34 crore a year ago.

Sales jumped. Revenue surged 53% year-over-year to top Rs 800 crore, marking the highest quarterly top-line performance in the firm’s history.

Operating profit (EBITDA) climbed 93% to Rs 120 crore, and the margin widened to 14.9%. Much of that growth comes from two new additions.

Bluetile and BestPlay joined Nazara’s books on 1 August and brought in Rs 329 crore in their first two months.

Even without them, revenue from the older gaming studios still grew 11%. Gaming now makes up 82% of the group’s revenue.

Gaming sales rose 122% to Rs 656 crore, with mobile games the biggest contributor at Rs 550 crore.

The top team has changed too. Raymond A. Stauffer, who founded Bluetile and BestPlay, took over as CEO on 16 September.

He said the group is building ‘a portfolio of high-quality games on a single, shared platform’.

Arun Agarwal assumed the role of Chief Financial Officer on October 16. Nazara also tidied up its fundraising in recent weeks.

In September, it cut its preferential share issue to Rs 730.78 crore after dropping one allottee, and on 26 October it filed a monitoring agency report on how that money is being used.

Acquisitions of Bluetile and BestPlay impacted liquidity, bringing net cash reserves down from Rs 624 crore in March to Rs 438 crore as of September 30.

At 11:13 am, the shares were up 0.59% (Rs 2.35) at Rs 402.60, extending their year-to-date gains to 43.75%.

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