Nykaa sees sharp upswing on robust performance in the third quarter

Overall at the consolidated level, Nykaa expects overall NSV to grow at a mid-20s percentage rate and revenue to grow at a low-20s percentage rate on YoY basis in 3QFY24

Nykaa’s business update for Q3FY24 led to a sharp upswing (up 6.11 per cent) in the stock price on Tuesday.

While the festive season consumption has been generally considered disappointing, Nykaa saw growth across its three business verticals.

Several analysts tracking the segment have pared down revenue and earnings expectations for most retailers, following the muted consumption noted in the festive season.

For Nykaa, in the Beauty & Personal Care (BPC) category, the net sales value (NSV) is expected to grow by 20 per cent on a year-on-year (Y-o-Y) basis, despite mid-20s percentage growth in gross merchandise value