Mumbai: FSN E-Commerce Ventures, the parent company of the omnichannel beauty and fashion retailer Nykaa, reported a 66% increase in its consolidated net profit for the quarter ending September 2024, reaching Rs 13 crore compared to Rs 7.8 crore in the same quarter last year, media reports said.
Revenue from operations grew by 24% year-on-year (YoY) to Rs 1,875 crore during the quarter.
The company also saw a 29% YoY rise in EBITDA to Rs 104 crore, with margins improving by 18 basis points to 5.5%, reported Economic Times.
The gross merchandise value (GMV) for the July-September 2024 period increased 24% YoY to Rs 3,652 crore.
By segment, beauty segment revenues rose 24% YoY to Rs 1,703 crore, while fashion segment revenues grew by 22% YoY to Rs 166 crore.
The beauty segment’s GMV grew by 29% YoY to Rs 2,783 crore in Q2, while fashion GMV saw a 10% YoY increase to Rs 863 crore.
Nykaa highlighted that its investment in new customer acquisition within the beauty segment showed strong returns, with a 31% YoY growth in the September quarter.
Premium fragrances within the beauty category outperformed the platform's average growth during this period.
Nykaa’s “Superstore” experienced an 80% YoY increase in GMV in the second quarter, with the number of transacting retailers rising 60% compared to the same quarter last year.
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