Fashion e-commerce venture Nykaa has registered an increase of 23 per cent in the net sales value of its beauty and personal care (BPC) segment year on year (YoY) during the April-June quarter to 1129.8 crores.
The BPC segment remains the backbone of the company's revenue. The numbers that have been released for the June quarter shows that around 80 per cent of gross merchandise value came from this segment from the existing customers.
Commenting on the increase in the net sales value of its beauty and personal care, managing director, and CEO Falguni Nayar said, “Our beauty vertical continues to shape into an ecosystem of its own – with steady and balanced growth across our online platforms, physical footprint as well as our consumer brands. Fashion’s consumer brands also experienced steady growth with our own labels now spanning across categories,”
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The company on Friday reported an increase in consolidated net profit and also an increase in revenue. Consolidated net profit increased while its revenue from the operations rose to 24 per cent during the same period.
It pointed out that it has registered Rs 5.4 crore net profit with a growth of 8 per cent for the June quarter. The company is hopeful that the premium category of BPC will grow faster than the mass categories. By 2027, it predicts that the premium segment would control 55% of consumer spending in the beauty sector.
The company's fashion business sales also saw an increase of 14 per cent. Growth in the fashion segment during April-June was “much ahead than the industry growth, but below its long-term trajectory,” Nayar said.
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The overall fashion gross merchandise value (GVM) grew at the rate of 12 per cent during the quarter. “The growth exceeded the short-term industry trajectory, given the weak fashion industry outlook for this quarter in particular,” the company stated.
The company said that its bets on acquisitions have been successfully paying out. Beauty company 'Dot and Key' which was acquired by Naykaa has performed over five times since the acquisition by the company. It remained profitable and crossed a GVM of Rs 300 crore, in the same period
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