Home / Companies / News /  Nykaa board to mull bonus issue on 3 October

Cosmetics-to-fashion retailer Nykaa said on Wednesday the company's board will meet on 3 October to approve the issuance of bonus shares to its existing shareholders.

In its filing with the exchanges, the company said, “We wish to inform you that a meeting of the Board of Directors of the Company will be held on Monday, October 03, 2022, to, interalia, consider and approve the issuance of Bonus Shares to the equity shareholders of the Company in the ratio, as it may deem fit and seeking shareholders’ approval by way of postal ballot and such other approval(s), as the Board may deem appropriate."

Bonus shares are additional shares given to the current shareholders of the company without any additional cost, based upon the number of shares that a shareholder owns. These are the firm's accumulated earnings, which are not given out in the form of dividends, but are converted into free shares.

Nykaa net profit rises 42% to 5 cr in April-June

The beauty and wellness e-commerce firm's consolidated net profit rose nearly 42% to 5 crore in the April-June quarter of FY23. The company had recorded a net profit of 3.52 crore in the same period a year ago.

The consolidated revenue from operations of Nykaa increased by 41 per cent to 1,148.42 crore during the reported quarter from 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 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 1,488.8 crore, while fashion segment GMV grew by 59 per cent to 582 crore during the reported quarter.

Shares of FSN E-commerce, which operates under Nykaa brand, closed at 1,278.05 apiece down by 0.85% on the BSE today.

ABOUT THE AUTHOR

Meghna Sen

Meghna Sen is a deputy chief content producer at Livemint where she tracks companies, news, markets. She has 5+ years of experience with print and online publications. Email: meghna.sen@htdigital.in
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