Nykaa Q3 Results | Net profit zooms 98% on strong gross merchandise value [Video]

Beauty and fashion firm FSN E-Commerce Ventures, which operates the Nykaa brand, on Tuesday (February 6) reported a 97.6% year-on-year (YoY) jump in net profit at ₹16.2 crore for the third quarter that ended December 31, 2023, on strong gross merchandise value.

In the corresponding quarter last year, FSN E-Commerce Ventures had posted a net profit of ₹8.2 crore, the company said in a regulatory filing. The company’s revenue from operations increased 22.3% to ₹1,788.8 crore against ₹1,462.9 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA rose 26.4% to ₹98.7 crore in the third quarter of this fiscal over ₹78.1 crore in the corresponding period in the previous fiscal. The EBITDA margin stood at 5.5% in the reporting quarter against 5.3% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The company recorded strong growth in consolidated gross merchandise value (GMV) at 29% year on year (YoY) …