Nykaa, operated by FSN E-Commerce Ventures Limited, saw a 51 per cent rise in consolidated net profit to ₹26.41 crore in the quarter ending on December 31, 2024, compared to ₹17.45 crore in the same period last year. The company’s revenue from operations also grew by 26.7 per cent to ₹2,267.21 crore, primarily fueled by a strong performance in its beauty segment.
Revenue from the beauty segment, which includes Nykaa’s online platform, owned brands, and physical retail stores, contributed ₹2,060.01 crore to the overall quarterly revenue. However, the fashion segment reported a loss of ₹25.41 crore during the quarter.
Total expenses for Nykaa increased to ₹2,228.18 crore from ₹1,769.89 crore year-on-year, with notable increases in finance costs and employee benefits expenses. Finance costs rose to ₹31.93 crore from ₹21.84 crore in the corresponding quarter.
In a significant development, Nykaa acquired an additional stake in Earth Rhythm Private Limited for ₹39.50 crore on November 26, 2024, boosting its holding to 74.63 per cent equity interest, including Optionally Convertible Redeemable Preference Shares.
Shares of FSN E-Commerce Ventures Limited closed on the NSE at ₹170.52 on Monday, marking a decrease of ₹2.94 or 1.69 per cent. Overall, Nykaa met or exceeded expectations on operational metrics but fell short on revenue and notably on net profit.
