Nykaa reports 22% y-o-y growth in Q3 revenue; profit almost doubles

7 Feb 2024 , 10:12 AM

FSN E-commerce Ventures, the company behind the omnichannel beauty and fashion retailer Nykaa, announced a consolidated net profit of ₹16.2 Crore for the quarter ending December 2023. This represents a substantial 97% YoY growth compared to ₹8.2 Crore reported in the corresponding quarter of the previous year.

Revenue from operations increased 22% YoY to ₹1,789 Crore in the reporting third quarter, compared to ₹1,463 Crore in the same quarter of previous year.

EBITDA climbed by 26% year on year to ₹98.8 Crore in the December quarter. EBITDA margins increased to 5.5%, representing a 26% YoY increase driven by direct and indirect cost savings.

During the quarter, Nykaa rolled out ESOPs, which are part of employee expenditures. Adjusting for ESOP and new business expenditures, the EBITDA margin would have been 6.1%.

The gross merchandise value (GMV) for the quarter increased by 20% YoY to ₹761 Crore.

Segment wise, the consolidated BPC (beauty and personal care) GMV increased by 25% YoY. NSV (net sales value) rise was 20% YoY, owing to increased discounting by companies in the mass and masstige segments.

The physical retail presence continues to grow, with 39 new locations opened in the previous four quarters, bringing the total to 174 as of December 2023. The retail sector currently accounts for more than 9% of total BPC GMV, resulting in a 35% year-over-year increase in EBITDA.

For feedback and suggestions, write to us at [e-mail]