Nykaa stock tanks ~4% on posting 68% yoy decline in Q3FY23 PAT

14 Feb 2023 , 10:04 AM

Shares of FSN E-commerce Ventures, Nykaa’s parent company, dropped over 4% as the company posted a lacklustre performance for the quarter ended December 2022.

The company reported a 68% yoy fall in consolidated net profit at Rs9 crore for the quarter ended December 2022, as compared to a profit of Rs29 crore in the previous corresponding quarter.

Meanwhile, company reported a 33% yoy increase in its revenue from operations at Rs1,462 crore for the quarter under review, as compared to Rs1,098 crore in the same quarter previous year.

The company’s expenses increased 36% to Rs1,455 crore in the third quarter, compared to Rs1,067 crore the previous year.

For the December quarter, the company reported an EBITDA of Rs78 crore, a 13% increase over the previous year’s quarter. Meanwhile, margins were 5.3% during the quarter.

During the quarter, the consolidated gross merchandise value (GMV) increased 37% year on year to Rs 2,796 crore.

Following the results announcement, Nykaa’s stock was trading 4.06% lower at Rs144.10, against the previous close of Rs150.20 on NSE. The counter opened at Rs142.10, being day’s low so far.

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