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PokerBaazi write-off pushes Nazara into losses in Q2 FY26

EntrackrEntrackr · 23d ago
PokerBaazi write-off pushes Nazara into losses in Q2 FY26
Medial

Gaming and sports media firm Nazara Technologies reported a 65% year-on-year rise in operating revenue for Q2 FY26. Moreover, the Mumbai-based company lost profitability due to a write-off of investment in PokerBaazi which was closed due to the enactment of the Promotion and Regulation of Online Gaming Act, 2025. Nazara's operating revenue rose by 65% to Rs 526 crore in Q2 FY26 from Rs 319 crore in Q2 FY25, according to its unaudited financial statements sourced from the National Stock Exchange (NSE). E-sports accounted for 17% (Rs 87 crore) of the company's total operating revenue, while the gaming segment held a 56% share (Rs 296 crore), followed by ad tech, which contributed 27% (Rs 143 crore). Interestingly, Nazara booked Rs 1,105 crore under non-operating income, bringing its overall revenue to Rs 1,631 crore in Q2 FY26 from Rs 344 crore in Q2 FY25. On a half-yearly basis, the company’s revenue increased by 80% to Rs 1,025 in H1 FY26 from Rs 569 crore in H1 FY25. Nazara’s total expenses surged by 66% to Rs 534 crore in Q2 FY26, compared to Rs 321 crore in the same quarter last year. Content cost stood at Rs 160 crore, while employee benefit expenses rose to Rs 78 crore. Notably, marketing expenses saw a sharp nearly 3X jump, reaching Rs 116 crore in Q2 FY26. With the enactment of the Promotion and Regulation of Online Gaming Act, Nazara recognized an aggregate reduction of Rs 914.70 crore in its investment in Moonshine Technologies. Due to this, the company recorded a loss of Rs 34 crore in Q2 FY26 as compared to a profit of Rs 18 crore in Q2 FY25. On a half-yearly basis, the company’s profit declined 57.5% to Rs 17 crore in H1 FY26 from Rs 40 crore in H1 FY25. In August this year, Nazara called off its plan to acquire a minority stake in Moonshine Technology Private Limited, the parent company of online poker platform PokerBaazi, due to the enactment of the Promotion and Regulation of Online Gaming Act, 2025. At the end of the day, Nazara’s share was trading at Rs 257 with a total market capitalization of Rs 9,539 crore (approximately $1 billion).

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Delhivery slips into losses in Q2 FY26; revenue grows 17%

EntrackrEntrackr · 1m ago
Delhivery slips into losses in Q2 FY26; revenue grows 17%
Medial

Fintrackr All Stories Delhivery slips into losses in Q2 FY26; revenue grows 17% Logistics company Delhivery announced its Q2 FY26 results on Wednesday, reporting a 17% year-on-year increase in revenue. The Gurugram-based firm slipped into losses during the same period. Delhivery’s revenue from operations grew to Rs 2,559 crore in Q2 FY26 from Rs 2,190 crore in Q2 FY25, according to its financial statements filed with the National Stock Exchange (NSE). Delhivery's primary revenue sources were its logistics services, including warehousing, last-mile logistics, and designing and deploying logistics management systems. The firm also earned Rs 92 crore from non-operating activities, bringing its total revenue to Rs 2,651 crore in Q2 FY26. For Delhivery, freight handling and servicing costs made up 68% of its total expenditure, rising by 12.5% to Rs 1,843 crore in Q2 FY26. Employee benefit expenses decreased by 22% to Rs 425 crore. Legal, depreciation, and other overhead costs contributed to an 18% increase in overall expenditure, which reached Rs 2,708 crore in Q2 FY26 from Rs 2,294 crore in Q2 FY25. Delhivery's expenditure outpacing revenue resulted in a loss of Rs 50 crore in Q2 FY26, compared to a profit of Rs 10 crore in Q2 FY25. For the half-year, its profit decreased by 37% to Rs 40.5 crore in H1 FY26 as compared to Rs 64.5 crore in H1 FY25. At the end of the last trading session, Delhivery’s share price stood at Rs 486, giving the company a market capitalization of Rs 36,335 crore (approximately $4 billion).

EaseMyTrip posts Rs 118 Cr revenue in Q2 FY26; slips into losses

EntrackrEntrackr · 21d ago
EaseMyTrip posts Rs 118 Cr revenue in Q2 FY26; slips into losses
Medial

EaseMyTrip posts Rs 118 Cr revenue in Q2 FY26; slips into losses Online travel aggregator (OTA) platform EaseMyTrip struggled during the second quarter of the ongoing fiscal year (FY26), with revenue declining over 18% and losing profitability. EaseMyTrip’s operating revenue decreased by 19% to Rs 118 crore in Q2 FY26 from Rs 145 crore in Q2 FY25, as per its financial statements filed with the National Stock Exchange (NSE). Air ticketing contributed 61% of the company’s revenue but fell 22% to Rs 72 crore in Q2 FY26, down from Rs 92.5 crore in Q2 FY25. Hotel packages accounted for 27% of total revenue, generating Rs 32 crore. Including other undisclosed income, its total income for Q2 FY26 stood at Rs 126 crore, compared to Rs 150 crore in Q2 FY25. According to the disclosure, the company’s revenue decreased by 22% to Rs 232 Cr in H1 FY26 from Rs 297 Cr in H1 FY25. EaseMyTrip’s total expenses rose 6% to Rs 120 crore in Q2 FY26 from Rs 113 crore in Q2 FY25. Employee benefit accounted for 26% of the total, increasing 24% to Rs 31 crore in Q2 FY26. Payment gateway charges, service costs, and advertising were other major costs for EaseMyTrip in the last quarter. With the dip in revenue and expense increasing, the company slipped into losses of Rs 36 crore in Q2 FY26 as compared to a profit of Rs 27 crore in Q2 FY25. On a unit basis, the Delhi-based company spent Rs 1.02 to earn a rupee of operating revenue during the last quarter. The company also announced the change of its senior officials in which Mr. Sankalp Kaul was appointed as Chief Technology Officer (CTO) of the Company replacing Mr. Naimish Sinha and Mr. Manmeet Ahluwalia was appointed as Chief Marketing Officer (CMO) of the Company. EaseMyTrip's board has approved the issuance of 55.93 crore fully paid-up equity shares worth Rs 514.06 crore on a preferential basis. The shares will be allotted to seven non-promoter investors including Ashish Begwani, Sunil Jain, Dhankalash Distributors, Divyank Singhal, Levo Beauty, SSL Nirvana Grand Golf Developers, and Javaphile Hospitality.

Tracxn losses rise 19% in Q2 FY26; revenue remains flat

EntrackrEntrackr · 1m ago
Tracxn losses rise 19% in Q2 FY26; revenue remains flat
Medial

Data and research platform Tracxn announced its financial results for the second quarter of FY26 on Wednesday. The firm’s revenue remained flat during Q2 FY26, while it slipped into losses on a quarter-on-quarter basis. Tracxn's revenue from operations decreased 1% to Rs 21.24 crore in Q2 FY26, compared to Rs 21.39 crore in Q2 FY25, its financial statements sourced from the National Stock Exchange (NSE) show. On a half yearly basis, Tracxn’s operating revenue increased by 1.2% to Rs 42.44 crore in H1 FY26 from Rs 41.93 crore in H1 FY25. Tracxn generated its entire operating revenue from subscription sales, offering access to its data and software. However, the Bengaluru-based firm did not provide a detailed revenue breakdown for the quarter. The company also made Rs 1.24 crore from non-operating sources which took Tracxn’s total revenue to Rs 22.48 crore in the second quarter. Employee benefits remained the largest cost center for Tracxn, accounting for 87% of its total expenditure. This expense increased by 4.6% year-on-year, rising to Rs 19 crore in Q2 FY26 from Rs 18.2 crore in Q2 FY25. Overall, Tracxn's total costs grew by approximately 6.7%, reaching Rs 21.86 crore in Q2 FY26. The company’s loss for the period decreased to Rs 5.56 crore in Q2 FY26 from Rs 4.65 crore in Q2 FY25. It's worth noting that the company had posted a profit of Rs 1.11 crore in the previous quarter (Q1 FY26). At the end of last trading day, Tracxn’s share price was trading at Rs 52.61, giving the company a market capitalization of Rs 559 crore ($63 million).

Swiggy losses widens 74% to Rs 1,092 Cr in Q2 FY26, Instamart grows 2X

EntrackrEntrackr · 1m ago
Swiggy losses widens 74% to Rs 1,092 Cr in Q2 FY26, Instamart grows 2X
Medial

Swiggy reported a 54% YoY rise in operating revenue to Rs 5,561 crore in Q2 FY26 from Rs 3,601 crore a year earlier, while losses jumped over 74% during the quarter. Swiggy, the foodtech and quick commerce major, recorded a 54% year-on-year rise in operating revenue to Rs 5,561 crore in Q2 FY26 from Rs 3,601 crore in Q2 FY25. Despite the strong topline growth, the Bengaluru-based firm’s losses swelled by more than 74% in the quarter, according to its consolidated financial statements filed with the stock exchanges. Scootsy Logistics contributed the largest share, 46%, to Swiggy’s overall operating revenue. Its income grew 76% year-on-year to Rs 2,560 crore in Q2 FY26, up from Rs 1,453 crore in the same quarter last year. Swiggy’s food delivery business also grew strongly, rising 22% year-on-year to Rs 1,923 crore in Q2 FY26, and accounted for nearly 35% of the company’s total revenue during the quarter. Swiggy’s quick commerce arm, Instamart, also posted strong growth, with revenue doubling to Rs 980 crore in Q2 FY26 from Rs 490 crore in Q1 FY25. Swiggy’s Dine Out, Genie, Swiggy Mini and other non-operating income took its total revenue to Rs 5,620 crore in Q2 FY26. On the cost front, procurement of FMCG products for supply chain distribution accounted for 34.9% of Swiggy’s total expenses, rising 69% year-on-year to Rs 2,342 crore in Q2 FY26. Delivery expenses grew 30% to Rs 1,426 crore during the quarter. The company spent Rs 690 crore on employee benefits and Rs 1,039 crore on advertising, which surged 94% year-on-year. Depreciation and amortization expenses also increased 132% to Rs 304 crore. Overall, Swiggy’s total expenses for the quarter increased 56% to Rs 6,711 crore from Rs 4,309 crore in Q2 FY25. A 56% rise in total expenses, led by a 94% increase in advertising costs and a 132% jump in depreciation and amortization, widened Swiggy’s losses by over 74% to Rs 1,092 crore in Q2 FY26 from Rs 626 crore in Q2 FY25. For the first half of FY26, Swiggy reported revenue of Rs 10,522 crore, up 54% from Rs 6,824 crore in H1 FY25. However, its losses also widened by 85% to Rs 2,289 crore during the same period. Recently, Swiggy sold its stake in Rapido for Rs 1,968 crore to Prosus-owned MIH Investments One B.V. and Rs 431.5 crore to Setu AIF Trust and WestBridge, netting Rs 2,399.5 crore in total and earning over 2.5x returns on an investment made less than four years ago.

FirstCry parent records Rs 2,099 Cr revenue, Rs 111 Cr EBITDA in Q2 FY26

EntrackrEntrackr · 21d ago
FirstCry parent records Rs 2,099 Cr revenue, Rs 111 Cr EBITDA in Q2 FY26
Medial

FirstCry's revenue from operations grew to Rs 2,099 crore in Q2 FY26 from Rs 1,905 crore in Q2 FY25, its unaudited financial statements sourced from the National Stock Exchange (NSE) show. Brainbees Solutions, the parent of kids-focused omnichannel retailer FirstCry, reported a 10% year-on-year rise in revenue and a 20% reduction in losses for the quarter ending September 2025. The sale of its products through offline stores and websites in India and the international market was the primary source of revenue, accounting for nearly 77% of total operating revenue, while its subsidiary, GlobalBees, contributed Rs 493 crore. The company also made Rs 38 crore from interest income which took its overall revenue to Rs 2,137 crore in Q2 FY26, compared to Rs 1,936 crore in Q2 FY25. For the omnichannel retailer, the cost of procurement of materials accounted for 61% of the overall expenditure which increased 11% year-on-year to Rs 1,329 crore in Q2 FY26 from Rs 1,194 crore in Q2 FY25. FirstCry’s employee benefits stood at Rs 203 crore in Q2 FY26 which includes Rs 59 crore as ESOP cost. The marketing, legal, rent, and technology were other overheads that pushed the overall expenditure to Rs 2,175 crore in Q2 FY26. The decent scale and controlled expenditure helped FirstCry to reduce its losses by 20% to Rs 50.5 crore in Q2 FY26. Notably, the company reported a positive EBITDA of Rs 111 crore. For the six months ended September 2025, the company’s loss decreased by 15% to Rs 117 crore in H1 FY26 from Rs 138 in H1 FY25. At the end of today’s trading session, FirstCry’s share price stood at Rs 335 per share, with a total market capitalization of Rs 17,503 crore (approximately $1.9 billion).

Nazara acquires 47.7% stake in PokerBaazi’s parent for $100 Mn

EntrackrEntrackr · 1y ago
Nazara acquires 47.7% stake in PokerBaazi’s parent for $100 Mn
Medial

Gaming firm Nazara has announced an investment of Rs 982 crore in PokerBaazi’s parent company, Moonshine Technology, to acquire a majority stake through a mix of secondary and primary share purchases. Nazara’s board has approved the acquisition of 18,96,674 equity shares of Moonshine from existing shareholders, including PSM Group, Bellerive Capital, and other individuals, via a secondary purchase, according to a disclosure sourced from the National Stock Exchange. The Mumbai-based company will acquire a 47.7% stake for a total consideration of Rs 832 crore ($100 million), which includes a secondary purchase of Rs 592 crore and a share swap valued at Rs 239 crore. As part of the deal, Nazara will also invest Rs 150 crore to purchase primary shares of Moonshine. This additional investment will make Nazara as the majority stakeholder in PokerBaazi. This deal represents one of the largest consolidations in the poker space, which is considered a skill-based gaming segment. PokerBaazi accounts for over 85% of Moonshine’s net revenue, while its fantasy sports platform, SportsBaazi, contributes 12%. As of May 2024, PokerBaazi reported approximately 340,000 monthly active users. Entrackr reached out to PokerBaazi and Nazara Games last month with a detailed questionnaire regarding the deal. At that time, PokerBaazi’s spokesperson dismissed the news as fake, while Nazara’s spokesperson referred to it as mere speculation. Nazara has been on an acquisition and investment spree since FY25, having acquired or invested in six startups over the past few months. Earlier this week, it acquired a 15.86% stake in e-sports startup Stan. Last month, it acquired UK-based Fusebox Games for $27.2 million in an all-cash transaction. Additionally, Nazara acquired Kiddopia’s developer Paper Boat Apps, secured IP rights for Ultimate Teen Patti, and took over assets of DeltiasGaming.

Nazara terminates deal with I3 Interactive to buy stake in Moonshine

EntrackrEntrackr · 3m ago
Nazara terminates deal with I3 Interactive to buy stake in Moonshine
Medial

Nazara terminates deal with I3 Interactive to buy stake in Moonshine Nazara Technologies Limited has called off its plan to acquire a minority stake in Moonshine Technology Private Limited, the parent company of online poker platform PokerBaazi, following the enactment of the Promotion and Regulation of Online Gaming Act, 2025. In a stock exchange filing, Nazara said that it issued a termination notice to I3 Interactive on August 31, 2025. The company had earlier agreed to purchase 38,073 equity shares, representing 0.96% of Moonshine’s equity from I3 Interactive Inc. for about Rs 15.9 crore. However, with the new law prohibiting real-money online gaming, including poker, Nazara said the deal has triggered a “material adverse effect” under the terms of the Share Purchase Agreement (SPA). Following the introduction of the gaming bill, Nazara promptly suspended its real money gaming operations. Nazara had announced the acquisition of a 46.07% stake in Moonshine in September last year. Besides I3 Interactive Inc, Nazara had bought the shares from a number of sellers, which included PSM Group Limited, Bellerive Capital (BCP) 6 Limited, Shells and Shores Consultancy & Holdings LLP, and others. Although the listed gaming company has consistently clarified that it neither consolidates Moonshine’s financials nor has any revenue exposure to real-money gaming, the ban would effectively render its investment in PokerBaazi worthless. While leading gaming firms such as Dream11, Gameskraft, and MPL have opted not to contest the new law, the parent company of A23, Head Digital Works, has filed a constitutional petition in the Karnataka High Court to challenge it, prompting the court to issue notice to the central government.

Mobikwik losses surge 8X in Q2 FY26

EntrackrEntrackr · 1m ago
Mobikwik losses surge 8X in Q2 FY26
Medial

Fintech platform MobiKwik reported its quarterly results for the second quarter of the ongoing fiscal year (FY26) on Tuesday, with revenue declining 7% year-on-year and losses rising more than 8X. MobiKwik’s revenue from operations decreased by 7% to Rs 270 crore in Q2 FY26 from Rs 291 crore in Q2 FY25, its unaudited financial statements accessed from the National Stock Exchange (NSE) show. Commissions on recharges, processing, and interest on servicing loans, payment gateways, as well as platform fee were the primary revenue sources for MobiKwik in Q2 FY26. On the lines of previous quarterly results, the firm didn't provide an income breakdown in Q2 FY26. For the half yearly basis, the company’s revenue declined 14.5% to Rs 541 crore in H1 FY26 from Rs 633 crore in H1 FY25. For the payments platform, payment gateway costs accounted for the largest expense, making up 47% of the total cost of Rs 134 crore in Q2 FY26. Its employee benefit expenses stood at Rs 35 crore, while lending fees aka commission amounted to Rs 13 crore. MobiKwik’s financial guarantee, legal, advertising-marketing, finance, and other overheads took its total burn to Rs 286 crore in Q2 FY26 which remained flat as compared to Rs 287 crore in Q2 FY25. The Gurugram-based company’s losses spiked 8X to Rs 28.6 crore in Q2 FY26, compared to Rs 3.5 crore in the same quarter last year. For the half year that ended in September 2025, it reported a net loss of Rs 70.5 crore. Mobikwik’s stock price is trading at Rs 255 (as of 11:50 AM) with a total market capitalization of Rs 2,021 crore. Earlier last month, MobiKwik announced the resignation of its Chief Operating Officer for Consumer Payments, Mohit Narain, citing health reasons. MobiKwik had reported that it was hit by Rs 40 crore fraud in Haryana and later clarified that it was due to internal glitch and not any cyberattack.

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