Nazara Q1 loss widens; CEO Mittersain steps down, new CEO appointed
NAZARA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Q1 FY27 consolidated revenue at Rs 428.77 cr; loss before tax of Rs 80.23 cr versus Rs 42.46 cr profit a year ago. Founder Nitish Mittersain resigns as CEO from Sept 1, 2026 but continues as Managing Director. Raymond Albaladejo Stauffer named new CEO subject to approvals. Independent director Arun Gupta also resigned citing time constraints. Board approved Rs 9.9 cr further investment in Funky Monkeys, Rs 24 cr unsecured loan to wholly-owned Smaaash, and revised commercial terms for Bluetile and Bestplay acquisition with no stock consideration. Founders Collective Fund converted 9 lakh warrants into equity.
Leadership change at the top may bring short-term uncertainty; Q1 loss widened on associate share of losses. Capital moves signal portfolio reshuffle.