FSN E-Commerce Ventures Ltd, the parent company of e-commerce platform Nykaa, reported its financial results for the quarter ended September 2023 on Monday, November 6. The company reported a net profit of ₹7.8 crore for the quarter under review, a 50% rise from the year-ago period. Nykaa reported a net profit of ₹5.42 crore in the June quarter.
The growth was driven by the e-commerce's beauty and personal care (BPC) business.
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 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. "Discounting has increased in this category due to proliferation of a number of home-grown brands as well as increasing number of international brands making India a priority market," Nykaa said in a press release.
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 on September 30, 2023."
New businesses at Nykaa, the company said in an exchange filing, which includes Superstore by Nykaa, witnessed a NSV of ₹98.6 crore for the quarter, a 105% on a year-on-year basis. Superstore business has scaled up to serving almost 1.3 Lakhs transacting retailers across 770 cities as on September 30, 2023.
On standalone basis, the total income stood at ₹64.3 crore, down from 83.47 crore in September 2022 quarter.
During the quarter, the company acquired 100% stake in Iluminar Media Private Ltd for a total consideration of ₹29.27 crore.
The shares of the company ended 5% higher on Monday, ahead of the announcement of its quarterly numbers.
First Published: Nov 6, 2023 4:03 PM IST
