Nykaa consolidated net profit rises 42% to Rs 5 crore in June quarter

FSN E-commerce, which operates under Nykaa brand, on Friday said its consolidated net profit rose nearly 42 per cent to Rs 5 crore in the April-June quarter of FY23.

The company had recorded a net profit of Rs 3.52 crore in the same period a year ago.

The consolidated revenue from operations of Nykaa increased by 41 per cent to Rs 1,148.42 crore during the reported quarter from Rs 816.99 crore in June 2021 quarter.

“Our business continues to grow across the verticals, despite an adverse and challenging macroeconomic environment, demonstrating the strength of our business fundamentals and unique customer-first experiences,” Nykaa executive chairperson, MD and CEO Falguni Nayar said in a statement.

“The beauty vertical, online and offline, is witnessing growth momentum while building efficiencies across the value chain,” she said.

Nykaa said that its Gross Merchandise Value (GMV) during the quarter grew by 47 per cent year-on-year to Rs 2,155.8 crore.

The GMV of Nykaa’s beauty and personal care segment grew by 39 per cent on a year-on-year basis to Rs 1,488.8 crore, while fashion segment GMV grew by 59 per cent to Rs 582 crore during the reported quarter.

“As a result of the significant discipline that we ensured in our retail store business during the COVID affected periods, we are now witnessing the positive effect of scale on our unit economics, especially with the return of offline shopping behaviour. The consumer demand for beauty, personal care and wellness is also showing early signs of recovery and we are gearing up for a promising festive season this year,” Nayar said.

The company also announced opening up of its second Aveda X Nykaa salon in the country and first in Delhi.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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