Nazara Technologies on Wednesday clarified that when the tax is implemented it will apply only to the skill-based real money gaming segment of its business, the company announced through an exchange filing. This came after the GST Council's decision to levy a 28 per cent goods and services tax on online gaming.
The contribution of this segment to Nazara Technologies overall consolidated revenue for the financial year 23 was 5.2 per cent.
The company added that it will take proactive steps to mitigate any potential impact to the segment and it will have very minimal impact on its overall revenues.
The company said "The company remains committed to its growth agenda and will continue to pursue organic and inorganic opportunities across various segments in which it operates."
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Nazara Technologies shares
The shares of Nazara Technologies on Wednesday at 9:34 am IST were trading at Rs 661.30, down by 6.43 per cent.
