Nykaa tumbles ~11% owing to lacklustre performance in Q1FY24

14 Aug 2023 , 10:39 AM

FSN E-Commerce Ventures, which owns online beauty and fashion store Nykaa, announced an 8% year-on-year (YoY) increase in its consolidated net profit for the quarter ended June 2023 at Rs 5.4 crore on Friday compared to Rs 5 crore in the previous corresponding quarter.

Following this development, the company’s counter fell as much as 11% in today’s trade to Rs 130.10. 

At around 10.23 AM, Nykaa was trading 6.94% lower at Rs 136.05, against the previous close of Rs 146.20 on NSE.

However, earnings attributable to parent equity shareholders declined 27% year-on-year to Rs 3.3 crore.

Revenue from operations jumped 24% y-o-y in the first quarter to Rs 1,422 crore, compared to Rs 1,148 crore in the same quarter last year. In the first quarter, the company’s EBITDA increased by 60% year-on-year to Rs 73.5 crore, with EBITDA margins increasing by 116 basis points to 5.2%.

The whole gross merchandise value (GMV) increased 24% year-on-year to Rs 2,668 crore.

Beauty and personal care (BPC) department GMV increased 24%, with solid performance across all verticals. Annual unique transacting consumers (AUTC) increased 21% year-on-year to 10.3 million as of June 30, 2023.

Meanwhile, orders on the Nykaa fashion platform climbed 12% year-on-year to 1.3 million for the quarter. In the June quarter, the fashion contribution margin was consistent with the previous year.

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