Net profit more than doubles to Rs 17.5 crore, revenue rises 22% | Top Vip News

FSN E-Commerce Ventures, which operates beauty and personal care (BPC) company Nykaa, reported a net profit of Rs 17.5 crore in the December quarter, up 106 per cent from the year-ago period, driven by strong demand during the festival and wedding. seasons.

Nykaa had reported a net profit of Rs 8.5 crore in Q3FY23.

The doubling of net profit was combined with a 22 per cent rise in revenue to Rs 1,788.8 crore, up from Rs 1,462.83 crore last year, the company said on February 6.

The results largely match what Nykaa had predicted last month.

“We continue to drive profitability improvement. EBITDA margin expanded to 5.5 percent during the quarter,” the company said in a prepared statement. The Mumbai-based company’s EBITDA margin, or earnings before interest, taxes, depreciation and amortization, was 5.3 per cent in the same quarter last year.

Nykaa had posted a net profit of Rs 7.8 crore in Q2FY24, an increase of 50 per cent over the year-ago period. Its revenue grew 22 percent to Rs 1,507 crore.

Nykaa’s gross merchandise value (GMV) grew 29 per cent year-on-year (YoY) to Rs 3,619.4 crore in the three months to December, with all divisions contributing to the company’s growth.

Its core business, beauty and personal care (BPC) division, saw GMV rise 25 per cent to Rs 2,369.7 crore from Rs 1,901.4 crore year-on-year.

Nykaa Fashion, which is a relatively young company, recorded GMV growth of 40 per cent to Rs 1,012.5 crore from Rs 7,24.4 crore in Q3FY23. The rest of the business came from other divisions like Super Store and others.

Key operating metrics

The average order value (AOV) across all Nykaa businesses recorded strong year-on-year growth. The AOV of its BPC business stood at Rs 2,024, up 3 per cent year-on-year. Nykaa Fashion, which caters to a more premium user base, saw its AOV rise 18 percent year-on-year to Rs 4,681.

Nykaa’s ‘other’ division had an AOV of Rs 4,027 in the December quarter, up 9 per cent from 3,709.

“The increase in disposable income driven by premiumization is strongly evidenced by the demand for luxury products seen during this Pink Friday. Premium and luxury brands outperformed, contributing 1/3 to overall GMV and growing at a 32 percent year-on-year,” the company said in its statement.