Tech
Nazara posts Q2 loss after RMG ban; revenue up 65%; invests in Rusk Media
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Nazara Technologies posted a net loss of Rs 33.9 crore, compared with a net profit of Rs 16.2 crore a year earlier, as new regulations in India’s real-money gaming (RMG) sector hit the Mumbai-based company’s bottom line.
Nazara said the loss during the quarter was mainly due to an impairment on its investment in PokerBaazi’s parent company, Moonshine Technologies. The company had to mark down the value of this investment after new regulations banned real-money gaming operations in the country.
“During the quarter, new regulations in India’s…
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