FSN E-Commerce Ventures, the parent of Nykaa, reported a sharp rise in first-quarter earnings, with net profit surging more than three-fold year-on-year, supported by robust revenue growth and strong margin expansion.
On a consolidated basis, Nykaa reported a net profit of Rs 80 crore for the quarter, up 243.3% from Rs 23.3 crore in the corresponding period last year. The profit was marginally below Bloomberg's estimate of Rs 83 crore.
Revenue from operations rose 29% year-on-year to Rs 2,782 crore, slightly ahead of analysts' estimate of Rs 2,762 crore, compared with Rs 2,155 crore in the year-ago quarter.
Operating performance remained strong during the quarter. Ebitda increased 67.8% year-on-year to Rs 236 crore from Rs 140.7 crore, exceeding the Street estimate of Rs 230 crore.
Nykaa Q1 Result Highlights (Cons, YoY)
- Net Profit rises 243.3% at Rs 80 crore versus Rs 23.3 crore (Estimate: Rs 83 crore).
- Revenue up 29% at Rs 2,782 crore versus Rs 2,155 crore (Estimate: Rs 2,762 crore).
- EBITDA rises 67.8% at Rs 236 crore versus Rs 140.7 crore (Estimate: Rs 230 crore).
- EBITDA Margin up 200 Bps at 8.5% versus 6.5% (Estimate: 8.3%).
The company's Ebitda margin expanded by 200 basis points to 8.5% from 6.5% a year ago, also coming in ahead of the estimated margin of 8.3%.
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Overall Gross Merchandise Value (GMV) demonstrated robust momentum with a 34% growth rate. This performance was largely propelled by the Fashion segment, which saw impressive Net Sales Value (NSV) expansion of 54%, while the Beauty segment also delivered solid results with a 29% increase in NSV.
Separately, Nykaa's board approved the acquisition of a 51% shareholding, on a fully diluted basis, in Aminu for a consideration of up to Rs 32 crore.
The acquisition is expected to strengthen Nykaa's portfolio as the company continues to expand its presence across beauty, fashion and lifestyle categories.
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