Q2 results impact: Nazara Tech shares jump 5% after revenue, EBITDA surge; Cochin Shipyard tumbles 8%

Q2 Results impact: Nazara Tech, Cochin Shipyard

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26 Aug, 2025 12:21

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The shares of gaming platform Nazara Tech jumped more than 5 percent on November 13 a day after the company released its results for the second quarter of the financial year 2026. Cochin Shipyard shares meanwhile tumbled in trade.

Nazara Tech shares were trading at Rs 270.75 apiece, while Cochin Shipyard shares fell more than 8 percent to trade at Rs 1,645.30 apiece.

Nazara Technologies on November 12 reported a consolidated net loss of Rs 33.9 crore for the second quarter of the ongoing financial year 2026, marking the diversified gaming and sports media company's first loss-making quarter since it went public in 2021.

The loss was primarily driven by a one-time impairment of its Rs 914.7 crore investment in Moonshine Technologies (PokerBaazi), following the government's recent law that imposed a blanket ban on real-money games in the country.

Nazara Technologies also recognized Rs 206.3 crore as its share of loss from associate firm Nodwin Gaming for the period from August 13 to September 30 this year, largely due to a provision for impairment related to Freaks4U. In Q2 FY26, the firm booked an additional Rs 17.5 crore as its equity share of loss in Moonshine Technologies (PokerBaazi).

This was partly offset by a one-time gain of Rs 1,098.5 crore, after Nazara revalued its retained stake in Nodwin Gaming at fair value following its de-subsidiarisation, as the company's holding in Nodwin Gaming fell to 47.66 percent.

Nazara's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) however surged by 146.4 percent year-on-year (YoY) to Rs 62 crore for the quarter under review, from Rs 25.2 crore in the year-ago period.

The company's revenue from operations also jumped 65.1 percent YoY to Rs 526.5 crore for Q2 FY26, from Rs 318.9 crore in the corresponding quarter of the previous financial year.

In a statement, Nazara founder Nitish Mittersain said the accounting adjustments this quarter, including the Moonshine impairment and Nodwin fair value gain, are "one-time items and do not impact operating cash flows or the momentum of the company's core business."

Cochin Shipyard on November 12 reported a standalone net profit of Rs 101.09 crore for Q2 FY26, marking a 48 percent YoY fall from the Rs 193.07 crore net profit reported in the corresponding period of the previous financial year.

The firm’s revenue from operations meanwhile fell more than 13 percent YoY to Rs 951.30 crore during the quarter under review, from Rs 1,096.98 crore reported in Q2 FY25.

Along with the Q2 results, Cochin Shipyard announced an interim dividend of Rs 4 per equity share for the financial year 2026. The record date to determine the eligibility of the shareholders set to receive the payment has been set at November 18, and the dividend will then be paid on or before December 11 this year.

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