Why Nykaa’s December quarter results lacked glamour1 min read 14 Feb 2023, 12:14 PM IST
Higher brand discounts and consumer downgrading weighed on the gross margin last quarter but the impact on the overall Ebitda level was not as pronounced
FSN E-Commerce Ventures Ltd, parent company of Nykaa could not charm investors with its December quarter (Q3FY23) results. Gross margin at 43.4% missed analysts estimates and was lower by roughly 300 basis points (bps) year-on-year (y-o-y) and 200bps sequentially. One basis point is one-hundredth of a percentage point. Unsurprisingly, the company’s shares were trading about 5% lower in Tuesday’s morning trade on the National Stock Exchange.
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