Nykaa’s net profit falls 71% YoY to Rs. 8.5 crore and revenue from operation rises 33% to Rs.1463 crore in Q3
Nykaa is an e-commerce portal which was founded in April 2012 , by Falguni Nayar . The brand deals with a range of beauty products and wellness products and has evolved as India’s largest cosmetics and lifestyle brands . Though it is one of the leading brands but in Q3FY23 results the net profit of the brand logged in a 71% decline .
On 13 February , tipster Ravisutanjani informed through his twitter account that Nykaa has posted Rs. 8.5 crore profit and Rs. 1463 crore revenue from operations in Q3 .
🚨 Nykaa Posted ₹8.5 Crore Profit & ₹1463 Crore Revenue from Operations in Q3
— Ravisutanjani (@Ravisutanjani) February 13, 2023
The company’s net profit has declined by 71% to Rs. 8.5 crore in Q3FY23 from Rs. 29 crore a year ago but company’s revenue from operations surged 33% to Rs. 1463 crore from Rs. 1098 crore in Q3FY22 . Along with this expenses for the quarter increased 36% to Rs. 1455 crore from Rs. 1067 crore a year ago .
The company reported an EBITDA ( earnings before interest , tax , depreciation and amortization ) of Rs. 78 crore for December quarter and the margins during the quarter came in at 5.3% . The consolidated gross merchandise during the quarter grew 37% YoY to Rs. 2796 crore .
The company expects the final quarter for the fiscal year to be decent and more interesting owing to India’s wedding season and it’s ongoing Pink Love sale . In a statement the company said that Nykaa’s Pink Friday sale in November achieved a 40% GMV growth .
Currently Nykaa is planning to add 50 more offline stores this year . According to Business Today commenting on this plan MD and CEO Falguni Nayar said ,” We will roll out 50 stores over the next four quarters . Even though physical retail accounts for less than 10% of our revenue , there’s opportunity for growth in general trade and modern trade .”
