Nykaa Q4 Results: Net profit zooms 187% YoY; Beauty biz GMV growth highest in 6 quarters; 5 key highlights

livemint.com:

Nykaa Q4 Results: FSN E-Commerce Ventures, which operates beauty and fashion retailer Nykaa, announced its January-March quarter results for fiscal 2023-24 (Q4FY24) on Wednesday reporting a massive four-fold jump in the quarterly net profit attributable to shareholders on customer retention over heavy discounts. The net profit zoomed to 187 per cent to ₹6.9 crore in the fourth quarter of FY24, compared to ₹2.4 crore in the year-ago period.The Falguni Nayar-led company's revenue from operations in the March quarter rose 28 per cent to ₹1,668 crore, compared to ₹1,302 crore reported in the corresponding period last year.

The revenue was driven by affluent consumers' preference for luxury makeup and fragrances from brands such as Estee Lauder, Bobbi Brown, and Dior.Also Read: Nykaa’s Q4 net profit jumps to ₹9.07 crore
Nykaa's beauty and personal care (BPC) segment, the biggest in terms of revenue contribution, saw a 30 per cent growth in gross merchandise value or GMV during the March quarter--the highest growth in the last six quarters, with accelerated customer acquisition driving superior order growth. The BPC segment, the biggest in terms of revenue contribution, crossed the milestone of $1 billion or ₹8,340 crore in GMV during the entire fiscal FY24, reporting a growth of 25 per cent year-on-year (YoY).

Nykaa’s physical retail footprint as of March 31, 2024 was 187 stores across 68 cities, an addition of 42 stores during the year.Nykaa's end-of-season sales and the ‘Pink Love Sale’ offered ahead of Valentine's Day fuelled volumes, the company said in its quarterly update. The fashion business has deepened its position as a premium women’s fashion destination this year.