Nykaa Q4: Net profit declines 71% to ₹2.4 cr, revenue up 34% | Mint
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Business News/ Markets / Stock Markets/  Nykaa Q4: Net profit declines 71% to 2.4 cr, revenue up 34%
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Nykaa Q4: Net profit declines 71% to ₹2.4 cr, revenue up 34%

The revenue from operations rose by 33.7 per cent to ₹1,301.7 crore in the quarter under review from ₹973.3 crore in the year ago period

A Nykaa store in New Delhi, India on Saturday, July 30, 2021. Nykaa has grown into India's top e-commerce site for beauty products, with the endorsement of Bollywood stars and a fervent following among twenty-somethings. The startup filed preliminary documents on Aug. 2 for an initial public offering, which Bloomberg News has reported could value the business at more than $4 billion. Photographer: Anindito Mukherjee/Bloomberg (Bloomberg)Premium
A Nykaa store in New Delhi, India on Saturday, July 30, 2021. Nykaa has grown into India's top e-commerce site for beauty products, with the endorsement of Bollywood stars and a fervent following among twenty-somethings. The startup filed preliminary documents on Aug. 2 for an initial public offering, which Bloomberg News has reported could value the business at more than $4 billion. Photographer: Anindito Mukherjee/Bloomberg (Bloomberg)

E-retail giant, FSN E-Commerce Ventures, which runs retail stores under the name Nykaa, on Wednesday reported 71.8 per cent decline in net profit to 2.4 crore for the quarter ended March 2023. This is against a net profit o 9 crore in the corresponding quarter last fiscal.

The online beauty platform's revenue from operations rose by 33.7 per cent to 1,301.7 crore in the quarter under review from 973.3 crore in the year ago period.

Nykaa's EBITDA shot up 84% to 70.6 crore during the quarter ended March 2023, from 38.4 crore in the corresponding quarter last fiscal. Meanwhile, margins during the quarter came in at 5.4 per cent.

The company's total expenses surged to 1,303 crore during the fourth quarter as against 978.6 crore in the last year period. In the corresponding quarter of last year, Nykaa had reported a tax benefit of 1.76 crore.

The online beauty platform's Business Planning and Consolidation (BPC) business has seen higher on-year growth rates in Q4FY23 versus Q3FY23. The company's BPC business grew 26 percent in Q3FY23.

Fashion business revenue growth in the quarter under review seen in the late teens. Fashion Biz rose 50 percent in Q3FY23.

The company's scrip ended 2.57 per cent down at 125 on BSE. The scrip has declined by 20 per cent of on a year-to-date basis.

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Published: 24 May 2023, 04:18 PM IST
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