Nykaa profit rises 66% to Rs 13 Cr, revenue up 24% in Q2
Beauty and personal care marketplace Nykaa witnessed strong growth in its beauty vertical and international business during the second quarter.
Beauty and personal care marketplace Nykaa's net profit grew 66% to Rs 12.97 crore in the second quarter of FY25, aided by festive demand.
FSN E-Commerce Venture, the parent company of Nykaa, clocked a 24% growth in operating revenue at Rs 1,874.7 crore, compared to Rs 1,507 crore in the second quarter of FY24, according to exchange filings.
The Falguni Nayar-led company posted a 24% growth in gross merchandise value (GMV) at Rs 3,652 crore during the three months ended September 30, 2024.
Segment-wise growth
Nykaa had earlier said that it expects mid-twenties revenue growth during the second quarter of FY25. It expected its beauty vertical to post mid-twenties growth in net revenue and net sales value.
Nykaa's beauty vertical, which competes with Reliance’s Tira and Abu Dhabi Investment Authority-backed Purplle, clocked a 24% rise in revenue at Rs 1,702.9 crore, while GMV grew 29% in the second quarter.
The growth in the beauty segment was mainly driven by strong performance across omnichannel retail businesses, owned brands, and eB2B distribution business, ahead of the festive season.
Nykaa's fashion vertical, led by Adwaita Nayar, witnessed a 22% growth in revenue at Rs 166.09 crore, helped by strong content revenue from the company’s previous acquisition of discovery platform LBB (Little Black Book) and higher services related income. The fashion segment clocked a 10% growth in GMV.
Nykaa’s international beauty business grew multifold, although on a much lower base (Rs 1 crore in the year-ago period), to Rs 5.76 crore. The business includes Nessa International and Nysaa Cosmetics, which is engaged in trading women’s cosmetics and personal care products in the GCC region.
A month ago, Nykaa had allotted 3.08 lakh equity shares under its ESOP (employee stock option plan) scheme, adding to the series of ESOP activities it has undertaken so far this year.
Shares of the company closed about 3% lower at Rs 179 apiece before the results were announced.
(The copy was updated with more details.)
Edited by Swetha Kannan
