Archive · 13 Nov 2025
Nazara Tech Shares Surge Despite Q2 Loss Driven by One-Time Charges
Imagine Nazara Tech is like a lemonade stand.
This quarter, they had to pretend their special secret ingredient machine (Moonshine Technologies) suddenly became worthless, which made them look like they lost a lot of money on paper.
But, at the same time, another part of their business (Nodwin Gaming) became more valuable because it's now separate, like finding a surprise pot of gold.
Even though the 'lost money' part looks bad, their actual lemonade sales and how much money they made from selling lemonade (operational performance) grew a lot!
The boss said these money changes are just on paper and don't affect how much real money they are making from selling lemonade.
So, even though the numbers look weird, people are excited about how much lemonade they are selling, and that's why the company's value went up.
Nazara Technologies' shares rose by 9.70% to Rs 281.55 on Thursday.
The company reported a consolidated net loss of Rs 33.9 crore for Q2 FY26.
The loss was primarily due to a Rs 914.7 crore impairment on its investment in Moonshine Technologies (PokerBaazi) following a ban on real-money gaming.
A one-time gain of Rs 1,098.5 crore was recorded from the de-subsidiarization of Nodwin Gaming.
Despite the net loss, operational revenue grew 65.1% YoY to Rs 526.5 crore, and EBITDA increased by 146.4% YoY to Rs 62 crore.
- Who
- Nazara Technologies Ltd
- What
- Shares surged despite reporting a net loss due to significant one-time accounting adjustments, while operational performance showed strong growth.
- When
- Thursday's trade (reporting Q2 FY26 results)
- Where
- Stock market (India)
- Why
- The surge is attributed to strong operational growth (EBITDA and revenue) and the CEO's statement that one-time accounting charges do not affect the core business, outweighing the reported net loss.
Financial Performance
Market Reaction
Quarterly Results
Financial Performance
Reported a consolidated net loss of Rs 33.9 crore due to a one-time impairment of Rs 914.7 crore on Moonshine Technologies and a Rs 1,098.5 crore gain from de-subsidiarization of Nodwin Gaming.
Market Reaction
Shares surged 9.70% to Rs 281.55, indicating investor focus on operational growth despite the reported net loss.
Operational Metrics
Financial Performance
EBITDA rose 146.4% YoY to Rs 62 crore, and revenue from operations grew 65.1% YoY to Rs 526.5 crore.
Market Reaction
The CEO stated that one-time accounting adjustments do not impact operating cash flows or the core business momentum.
- Company
- Nazara Technologies Ltd
- Period
- Q2 FY26
- Net Loss
- Rs 33.9 crore
- Moonshine Technologies Impairment
- Rs 914.7 crore
- Nodwin Gaming Gain
- Rs 1,098.5 crore
- Operational Revenue Growth
- 65.1% YoY
- EBITDA Growth
- 146.4% YoY