Nykaa posts 24% increase in Q2 profit
Nykaa, on Tuesday reported a 24% year-on-year increase in operating revenue for the second quarter at Rs 1,875 crore.
Consolidated net profit for the Mumbai-based company rose 66% to Rs 13 crore in the quarter ended September 30.
Gross merchandise value (GMV) rose 24% to Rs 3,652 crore. Within this, the beauty vertical posted a 29% increase in GMV to Rs 2,783 crore, driven by a 31% rise in new customer acquisition.
The company is making deliveries quicker without significant investments that could affect profitability or revenue margins, Anchit Nayar, chief executive of Nykaa Beauty, told analysts during a post-earnings call. Nykaa’s high order value will allow this quick-delivery segment to remain profitable without diluting margins or requiring large capital outlays, he said.
The company has a segment within its assortment called ‘fast-moving everyday stock-keeping units (SKUs)’, primarily consisting of essential beauty products which Nykaa is focusing on delivering within a 30-minute to three-hour window, Nayar said.
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