Nykaa’s profit down y-o-y by 71.83% in March quarter

25 May 2023 , 12:13 PM

FSN E-Commerce Ventures (Nykaa) reported a 71.83% year-on-year decline in its net profit for the March quarter at Rs 2.4 crore on Wednesday. In the fourth quarter, Nykaa’s consolidated revenue increased 33.75% yoy to Rs 1,301 crore.

The company’ reported a 3 bps Q-o-Q increase in its EBITDA margin at 5.4%. During the quarter, the company reported an 84% increase in EBITDA to Rs 70.6 crore.

During the quarter, total tax expense of Rs 4.35 crore weighed on the bottom line. Nykaa stated that in the same quarter last year, it has registered a tax benefit of Rs 1.76 crore.

Nykaa’s revenue from operations jumped by more than 36% in FY23 to Rs 5,144 crore from Rs 3,774 crore in FY22. The annual profit fell 53% to Rs 19.26 crore.

GMV in the beauty and personal care (BPC) segment, Nykaa’s mainstay, increased 29% year-on-year to Rs 1,628.9 crore during the quarter under review. The fashion segment’s GMV increased 38% yoy to Rs 664.1 crore.

At around 12.03 PM, Nykaa’s stock was trading 1.52% higher at Rs 126.90, against the previous close of Rs 125 on NSE. The counter touched an intraday high and low of Rs 127.90 and Rs 122.15 respectively.

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