Nazara Tech Slips Into ₹82.5 Cr Loss In Q1; Nitish Mittersain Steps Down As CEO

Gaming and sports media platform Nazara Technologies has reported a consolidated net loss of ₹82.47 crore for the first quarter ended June 30.

The company had posted a consolidated net profit of ₹51.34 crore in the corresponding quarter of the previous fiscal, according to a regulatory filing.

Nazara’s revenue from operations stood at ₹428.77 crore in Q1 FY27, a decline of 14% from ₹498.77 crore in the year-ago period.

On a sequential basis, revenue grew by 7.8%. In Q4 FY26, the company had posted a net profit of ₹55.7 crore.

The company announced that Nitish Mittersain has tendered his resignation from the office of Chief Executive Officer (CEO) with effect from September 1, 2026. Mittersain will continue to serve as the Managing Director of the firm.

The company’s board has approved the appointment of Raymond Albaladejo Stauffer as the new CEO to succeed Mittersain.

Stauffer, a former Google executive, was the founder of Bluetile Games and Bestplay Systems.

In March 2026, Nazara announced that its UK-based subsidiary would acquire a 50% controlling stake in Spanish social gaming platforms Bluetile Games and BestPlay Systems for $100.3 million (about ₹918 crore).

Nazara's board has now revised terms for the acquisition of Bluetile Games and Bestplay Systems.

The company will now acquire 100% of the share capital of both entities for an aggregate fixed cash consideration of $303.02 million (about ₹2,909 crore). Furthermore, the board cleared an additional investment of up to ₹9.9 crore in its subsidiary, Funky Monkeys Play Center, to increase its stake to 68.1%

It also approved an unsecured loan of up to ₹24 crore for its wholly-owned subsidiary, Smaaash Entertainment.