FSN E-Commerce Ventures Ltd, which runs online fashion retailer Nykaa, on Tuesday reported a consolidated net profit of Rs 5.2 crore during the September quarter. The company had posted a net profit of Rs 1.17 crore in the same period a year ago.
Nykaa's consolidated revenue from operations increased 39 per cent to Rs 1,230.8 crore in the second quarter of the current financial year. In the year-ago period, the same stood at Rs 885.26 crore.
Nykaa, in an exchange filing, said its EBITDA improved to Rs 61 crore as against Rs 28.8 crore in the year-ago period. Its consolidated margin also improved to 4.9% against 3.3% on a YoY basis.
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Shares of Nykaa rose more than 4% to Rs 1,208 apiece on the BSE in Tuesday's afternoon deals after the announcement of the results.
The Decline Continues For Nykaa Shares
Several new-age tech stocks have seen volatility over the last few months. Shares of Falguni Nayar-led online beauty retailer touched a new record low of Rs 975.50 on Friday.
Nykaa reported a 47% year-on-year (YoY) growth in its gross merchandise value (GMV) to Rs 2,155.8 crore in Q1 FY23.
The company has acquired brands including skincare startups like Dot & Key and Earth Rhythm, and fashion brands like Kica and Pipa Bella, to strengthen its presence in the market.
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The company has also approved a bonus issue of 5:1, meaning shareholders will get five bonus shares for every one share held.
Nykaa's initial public offering (IPO) was subscribed to 81.78 times, mainly helped by huge interest from institutional investors. It was listed at a premium of 80 per cent. But the stock has more than halved this year.
