Nykaa consolidated net profit up by 8% at Rs 5.4 cr in June quarter

Beauty and fashion firm FSN E-Commerce Ventures, which operates under Nykaa brand, on Friday posted 8 per cent increase in consolidated net profit at Rs 5.4 crore for June quarter 2023-24.

The company had clocked a net profit of Rs 5 crore in the same period a year ago.

Profit attributable to equity shareholders, however, declined about 26 per cent to Rs 3.3 crore from Rs 4.5 crore in April-June 2022.

Consolidated revenue from operations increased about 24 per cent to Rs 1,421.8 crore during the quarter from Rs 1,148.4 crore in the corresponding period of 2022-23.

"Our beauty vertical continues to shape into an ecosystem of its own with steady and balanced growth across our online platforms, physical footprint as well as our consumer brands. Fashion's consumer brands also experienced steady growth with our own labels now spanning across categories westernwear, indianwear, lingerie, menswear, accessories and much more," Nykaa Executive Chairperson, MD, and CEO Falguni Nayar said in a statement.

She said Nykaa Fashion's growth in the quarter was much ahead than the industry growth but below its long-term trajectory.

"Dot & Key has crossed an annualized GMV run rate milestone of Rs 300 crore, growing five-fold in two years while achieving profitability, demonstrating the successful model of building value with the Nykaa playbook," Nayar said.