Nazara Tech profit up 47% to `29.5 cr

Gaming and sports media company Nazara Technologies reported a 47% jump in its net profit to Rs 29.5 crore for the quarter ended December, against Rs 20.1 crore in the year-ago period, as it cut back on marketing expenses.

However, revenue grew only 2% year-on-year to Rs 320.4 crore, mainly due to decline in sales of digital marketing arm Datawrkz and skill-based gaming platform Openplay, the company said.

Total expenses fell to Rs 282.7 crore in Q3 from Rs 284.3 crore a year ago, mainly due to a 26% drop in advertising and marketing expenses. Lower expenses also drove its margins higher.