CURVE GAMES ACQUISITION
Musk kicks off xAI, Neuralink fundraises after DOGE farewell
Elon Musk is shifting his focus back to his businesses, with xAI seeking $5 billion to expand its AI footprint and Neuralink securing $650 million after successful clinical trials of its brain implant devices. X is rolling out XChat, a new direct message service, while Tesla appears hesitant to establish manufacturing in India despite initial interest.
Nazara Technologies shares in focus after Q4 revenue nearly doubles; net profit surges to Rs 4 crore
Nazara Technologies’ Q4FY25 revenue nearly doubled to Rs 520.2 crore, with net profit rising to Rs 4 crore. Despite higher marketing and employee expenses, esports and gaming segments showed strong growth. The company plans global expansion through acquisitions like Curve Games. Analysts maintain a ‘Hold’ rating, with an average target price of Rs 979, reflecting cautious optimism.
Nazara Technologies Q4 revenue nearly doubles; net profit rises to Rs 4 crore
Nitish Mittersain, CEO of the online gaming company, said Nazara expects greater contribution from high-margin gaming businesses this year, which should further improve profitability. The company witnessed a 95% jump in operating revenue during the fourth quarter, driven by its esports and gaming divisions. Total expenses also increased due to advertising and employee costs.
Nazara Tech Q4 results: Cons PAT doubles YoY to Rs 16 crore, revenue rises by 95%
Nazara Technologies posted 90% YoY profit growth in Q4FY25 at ₹16 crore, with revenue surging 95%. FY25 EBITDA hit a record ₹153.5 crore, driven by strong gaming momentum, strategic acquisitions, and steady margins despite high user acquisition costs.
Top tech and startup stories this week
Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
Fintechs lose loan steam; Google’s AI platform shift
Happy Wednesday! Digital lenders bore the brunt of the slowdown in unsecured lending after a regulatory diktat last fiscal. This and more in today’s ETtech Morning Dispatch.
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Nazara Technologies acquires UK’s console gaming publisher Curve Games for Rs 247 crore
This acquisition, the company's largest international deal, gives Nazara complete ownership of Curve, which has a strong portfolio of indie games such as Human Fall Flat, For the King, and Lawn Mowing Simulator. These titles have collectively clocked over 100 million downloads globally.
H-1B visa slump; EaseMyTrip CEO under ED lens
H-1B visa applications for FY26 dropped 25% as higher visa fees and a weak US economy dampened demand. This and more in today’s ETtech Top 5.
Multibagger or IBC - Part 6: Will change in focus to EV make this auto ancillary company a major automaker?
The year was 2016. At a time most of its peers were wondering how they could adapt to survive the EV transformation in the auto sector, this auto ancillary had not only made the pivot but had actually switched to becoming an EV OEM. That year, it launched its first electric bus! In addition, today, as rivals are worrying about US tariffs, this company is doubling down on India and select international markets through a mix of aggressive tender wins, strategic JVs, and capital infusion from global institutions.
“We built without funding”: EaseMyTrip’s Rikant Pittie backs Piyush Goyal’s call for real innovation
EaseMyTrip Co-Founder Rikant Pitti voiced strong support for Commerce Minister Piyush Goyal’s call to move beyond short-term fixes in India's startup ecosystem. Pitti highlighted his company’s commitment to long-term innovation, including AI-driven solutions and green mobility initiatives. He also discussed the expansion of electric buses as part of EaseMyTrip’s broader goal to promote eco-friendly and self-reliant transport solutions.
Looking into FY25, Nazara Technologies has a very good base to launch more aggressive growth: Nitish Mittersain
“In the medium to long term, we are aiming to get our gaming margins above 25%. The right range is 25-30% and that is what we will keep striving for. Our e-Sports business remains a strategic business for us, therefore, our focus is not so much on margin expansion but building strategic moats.”
What did Nazara learn from Rakesh Jhunjhunwala? Nitish Mittersain explains
“Rakesh Jhunjhunwala invested in Nazara in early 2018 and I still remember meeting him in his conference room. It was a fanboy moment for me because he was the Sachin Tendulkar of the stock market in that sense. His focus always was, be clear on your strategic focus and dominate whichever space you operate in. ”
Glance bets big on US expansion and NFT-tokens
The company will take its live commerce solutions including Roposo as well as its recent gaming acquisition, Gambit, to the US market over the course of the year.
Web3: A blockchain-based next era of internet is set to break cover
Decentralised internet based on blockchain technology will empower legions of social media creators and reduce their dependence on large social media platforms.
Why RBI may deliver a non-action-packed money policy for bond wallahs
From an economy perspective, high frequency indicators are currently presenting a mixed picture. While mobility and sentiment indicators have moderated, activity indicators are showing resilience.
Development of yield curve, other measures by RBI to help market in a big way: Ashwani Bhatia
“As the second Covid wave has hit us in a very significant manner in the last 15 days, some caution is warranted on the inflation front.”
Overheated startup sectors may see a reset
Even as entrepreneurs joined forces through M&As to tackle the pandemic, the absence of Chinese money in the ecosystem resulted in muted large dollar deals in an already difficult year.
Startups on prowl for senior leaders
One crucial quality startups are looking for in candidates is the ability to manage an ambiguous environment in the post-pandemic world
We will have 1.5 mn customers within 12 months: Rajiv Lall, IDFC Bank
“Within five to seven years our ROAs and ROEs should be among top ones in the industry.”
25 years of reforms: Changing the mindset is crucial to keep up with competition, says Kumar Mangalam Birla
So the first change that liberalisation entailed was a change in mindset, forgetting old ways of running business.
Meet Delhi teen Arz Bhatia, lead designer of OnePlus' operating system OxygenOS
Helen Li, product head at OnePlus, says that Bhatia has an eye for design and a set of skills that render his age irrelevant in the industry.
Hiring right talent goes beyond usual channels: Rajiv Dutta, Convergys India and China
Acquiring the right quality of talent fit for the job requirements is constantly evolving, says Rajiv Dutta, head-Talent Acquisition, Convergys India and China.
For Kotak, ING Vysya merger is like joint family moment
The market, too, appears to have given a thumbs up. The Kotak-ING deal has been one of the rare instances where both the acquirer and the acquired company have gained in value.
Have courage to make big changes: Stewart Butterfield
Stewart Butterfield sold Flickr to Yahoo, then failed with a gaming platform. His newest venture, Slack, has become the fastest to reach a billion dollars in valuation.
Digital business to give TCS $5 billion revenue in 5 years: N Chandrasekaran, CEO and MD TCS
We want to walk closely with our customers, help them adapt to new technologies or come up with new business models.
Economic downturn can wreak havoc on a CEO's track record
Head honchos who pressed all the right buttons during the growth phase can look pretty ordinary during a downturn.
Chernin Asia Media Ready to Invest $50m in Digital Foray: Rajesh Kamat
Rajesh Kamat, former Viacom 18 COO, has settled down in his new role as an investment manager as the India head of former Newscorp chief Peter Chernin's CA Media.
We will continue to focus on acquisitions: Francisco D'souza, CEO, Cognizant
There are pockets of strengths & weaknesses that offer opportunities for tech services cos that understand client needs, says D'souza.
US LuxeYard teams up with Sashi Chimala for e-retail business
LuxeYard, best known for flash sales or heavy discounts for limited periods of time, is entering the booming Indian ecommerce market.
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