Nazara posts Q2 loss after RMG ban; revenue up 65%; invests in Rusk Media

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Nazara Technologies posted a net loss of Rs 33.9 crore, compared with a net profit of Rs 16.2 crore a year earlier, as new regulations in India’s real-money gaming (RMG) sector hit the Mumbai-based company’s bottom line.

Nazara said the loss during the quarter was mainly due to an impairment on its investment in PokerBaazi’s parent company, Moonshine Technologies. The company had to mark down the value of this investment after new regulations banned real-money gaming operations in the country.

“During the quarter, new regulations in India’s…



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Nazara posts Q2 loss after RMG ban; revenue up 65%; invests in Rusk Media



Nazara Technologies posted a net loss of Rs 33.9 crore, compared with a net profit of Rs 16.2 crore a year earlier, as new regulations in India’s real-money gaming (RMG) sector hit the Mumbai-based company’s bottom line.

Nazara said the loss during the quarter was mainly due to an impairment on its investment in PokerBaazi’s parent company, Moonshine Technologies. The company had to mark down the value of this investment after new regulations banned real-money gaming operations in the country.

“During the quarter, new regulations in India’s…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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