NYKAA rises following settlement of litigation with L'Oreal

FSN E-Commerce Ventures (NYKAA) advanced 3.94% to Rs 1384.55 after the company said that its litigation with L'Oreal S.A. has been settled.

"In the course of Initial Public Offering by the company, the details of the pending litigation (civil proceeding) with L'Oreal S.A. were disclosed in the Prospectus dated November 02, 2021. The company hereby informs that the aforesaid litigation with L'Oreal S.A. has been settled," the company said in an exchange filing made after market hours yesterday.

Nykaa (FSN E-Commerce) is a lifestyle focused consumer technologies platforms. It offers 4,078 brands and over 3.1 million product stock-keeping unit (SKU) through its website and mobile applications as of 31 August 2021.

The company's consolidated net profit fell 59.50% to Rs 27.93 crore in Q3 December 2021 as against net profit of Rs 68.97 crore in Q3 December 2020. Revenue from Operations grew 36% YoY to Rs 1098.4 crore in Q3 FY22.

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