Nykaa reports 106% growth in net profit to Rs 17.5Cr in Q3FY24; Revenue climbs 22%

Nykaa's parent company, FSN E-Commerce Ventures, has reported a significant 106% year-on-year growth in net profit for Q3FY24, reaching Rs 175 crore.

The company attributes this growth to strong demand during festive and wedding seasons, as well as strategic sales events like the "Pink Friday Sale".

Nykaa's consolidated revenue also saw a 22% surge to Rs 1,789 crore.

The company has focused on enhancing profitability, leading to a 26% year-on-year growth in EBITDA margin to 55%.

Gross Merchandise Value (GMV) increased by 29% year-on-year, with the beauty and personal care segment seeing a 25% increase and the fashion segment experiencing a 40% increase.

Average Order Value (AOV) across Nykaa's businesses registered significant growth, with the fashion segment's AOV increasing by 18% year-on-year.

The company's unique transacting customer base grew by 23% year-on-year to 29 million.

Nykaa expanded its physical retail footprint with the launch of 39 new stores, bringing the total to 174 stores as of December 31, 2023.

The retail business now contributes to over 9% of the overall beauty and personal care GMV.