 "A Nykaa store in New Delhi, India")
Cosmetics-to-fashion retailer Nykaa on Wednesday reported a 59% slump in quarterly net profit, hit by a jump in expenses and subdued demand for personal care and fashion products.
In its second earnings report since a blockbuster market debut last year, Nykaa's parent company FSN E-Commerce Ventures Ltd said total costs surged 46.8% year-on-year to Rs 1,067 crore, including a big jump in employee benefits expenses.
Nykaa in November posted a 96% slump in quarterly profit in its first post-IPO earnings report.
Founded in 2012 by former investment banker Falguni Nayar, the company became popular by selling cosmetics and grooming products
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
