The company reported an 8.2% growth in stores to 187 units across India
New Delhi: Beauty and fashion e-commerce firm FSN E-Commerce Ventures, owner of Nykaa brand, on Wednesday said it has posted a nearly four-fold jump in consolidated net profit at Rs 9 crore for the March 2024 quarter.
The company registered a net profit of Rs 2.27 crore in the January-March period a year ago, according to a regulatory filing.
The consolidated revenue from operations increased by about 28% to Rs 1,668 crore during the reported quarter from Rs 1,302 crore in the March 2023 quarter.
For the year ended on March 31, 2024, Nykaa posted an 89.6% jump in net profit to Rs 39.74 crore from Rs 20.96 crore in the financial year (FY) 2023.
The annual revenue of Nykaa increased by about 24% to Rs 6,385.62 crore in FY24 from Rs 5,143.8 crore in FY23.
Nykaa’s gross merchandise value (GMV) grew by 32% to Rs 3,217.2 crore on a year-on-year basis with the beauty and personal care segment accounting for 67% share, fashion (26%) and other segments contributing 7%.
The company reported an 8.2% growth in stores to 187 units across India, comprising 79 stores for Nykaa Ontrend, 67 Nykaa Lux — the luxury stores and Nykaa Kiosk.
