Lexdale International is likely to divest 2.62 crore shares in the online retailer of beauty brands, Nykaa, through block deals, sources privy to the developments told CNBC-Awaaz.
The total value of this block deal stands at ₹490 crore, sources in the know told CNBC-Awaaz. The lock-in period for this deal is set at 45 days and brokerage firms Morgan Stanley and JP Morgan are the brokers to deals, the sources said.
Nykaa reported a 50% increase in consolidated net profit to ₹7.8 crore in the second quarter ended September 2023. The company posted a net profit of ₹5.2 crore in the same period a year ago. The consolidated revenue from operations of Nykaa grew 22.4% to ₹1,507 crore during the reported quarter from ₹1,230.82 crore a year ago.
Revenue from operations climbed 22% to ₹1,507 crore for the quarter under review, from ₹1,230.82 crore a year ago. Nykaa noted that the revenue rose in the quarter despite the delay in the festive season as compared to the previous year. The consolidated beauty and personal care gross merchandise value rose 23% year-on-year, with a net sales value growth of 19% year-on-year.
Nykaa noted that the physical retail business continued to expand post-COVID on the back of 13 new stores launched in the quarter, taking the total number of stores to 165 as of September 30, 2023.
The retail business now constitutes 8% of the overall beauty and personal care gross merchandise value. Nykaa's brands in beauty experienced net sales value growth of close to 21% year-on-year.
The fashion business' consolidated revenue came at ₹130.5 crore, up 28% on a year-on-year basis. "This was on the back of strong growth of 32% YoY in NSV in Q2 FY2024, led by an increase in annual unique transacting customer (AUTC) which grew at 30% YoY to 2.8 million as of September 30, 2023."
Shares of FSN e-Commerce Ventures Ltd ended at ₹193.70, up by ₹3.30, or 1.73% on the BSE.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Lok Sabha Election: Re-elections at a Ajmer booth after presiding officer misplaces register of voters
May 2, 2024 4:54 PM
Rahul will be forced to take out 'Congress Dhoondho Yatra' after June 4: Amit Shah in Bareilly
May 2, 2024 4:36 PM