FSN E-Commerce Ventures added 2.95% to Rs 1315 after the company announced that its board on Monday, 03 October 2022, will consider and approve the issuance of bonus shares to the equity shareholders of the company.
The bonus shares would be issued in the ratio as the board may deem fit. The board will seek shareholders' approval by way of postal ballot for the same.
FSN E-Commerce Ventures operates Nykaa, which is a leading lifestyle-focused consumer technologies platforms. Since its launch, it expanded its product categories by introducing online platforms Nykaa Fashion, Nykaa Man, and Superstore. Delivering a comprehensive Omnichannel e- commerce experience, Nykaa offers over 4,000 brands and over 3.1 million product SKUs through its website and mobile applications.
The company's consolidated net profit rose 33% to Rs 4.55 crore in Q1 FY23 as against net profit of Rs 3.42 crore in Q1 FY22. Revenue from operations jumped 41% year on year (YoY) to Rs 1,148.42 crore in Q1 FY23.
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