Nazara Q2 FY27 EBITDA rises 93% with Bluetile included
NAZARA · price
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On the reaction day the stock moved 1.7 pts less than its Entertainment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Q2 revenue rose 53% to INR 803 crore and EBITDA rose 93% to INR 120 crore; margin improved to 14.9% from 11.8%. Gaming revenue rose 122% to INR 656 crore; organic revenue and EBITDA grew 11% and 17%. H1 revenue was INR 1,232 crore and EBITDA INR 166 crore. Bluetile and BestPlay were consolidated from 1 August. AI tools are rolling out across studios; Bluetile's founder became CEO. Cash was INR 525 crore after INR 541 crore of acquisition spending.
Strong growth and margin gains could support the stock, but acquisition-heavy results and lower cash create integration and funding risks.