Nykaa Q2 Results: FSN E-Commerce Ventures, the operator of the Nykaa brand, announced on Tuesday a consolidated net profit (attributable to equity shareholders of parent) of ₹10.04 crore for the quarter that concluded on September 30, 2024 (Q2FY25), marking an increase of 71.6% compared to ₹5.85 crore it recorded during the same quarter last year. Sequentially, the consolidated net profit was up 4.1%. On Tuesday, Nykaa share price ended 1.73% lower at ₹179.35 apiece on BSE.
The firm's consolidated revenue from operation for the quarter ended September stood at ₹1,874.74 crore, which was up by 24.4% from ₹1,507.02 crore reported in the corresponding quarter of the previous financial year.
The company disclosed expenses of ₹1,858.93 crore for the September quarter, reflecting a 23.7% increase compared to ₹1,502.33 crore reported in the same quarter of the previous financial year.
The gross merchandising value or GMV in the July-September quarter stood at ₹3,652.5 crore, registering a 24% YoY growth. Company's Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) stood at ₹103.7 crore which was a 29% YoY growth. EBITDA margin was up by 18 bps YoY to 5.5%.
On a segment basis, the beauty segment saw a 24% year-over-year increase in revenues, reaching ₹1,703 crore, while the fashion segment experienced a 22% year-over-year growth, amounting to ₹166 crore.
The beauty segment's GMV grew 29% year-over-year, reaching ₹2,783 crore in the second quarter. Meanwhile, the GMV for the fashion sector saw a 10% YoY increase, totalling ₹863 crore.
In the beauty sector, Nykaa noted that their investment in acquiring new customers is yielding results, with a robust year-over-year growth of 31% in the September quarter. The premium fragrance category within the beauty market experienced growth that surpassed the overall platform during the reported timeframe.
“This was fuelled by new customer acquisition growth of 31% YoY, bringing Nykaa's cumulative beauty customer base to 30 million and One Nykaa cumulative base to 37 million. This contributed to a 22% YoY rise in annual unique transacting customers and a 24% YoY increase in total orders,” the company said.
According to the company's exchange filing, Nykaa has become the largest beauty retail network in India, boasting 210 physical stores across 72 cities. There has been roughly a 25% year-on-year increase in retail space, which includes the opening of two flagship locations in Mumbai and Delhi. With a gross merchandise value of around ₹3,500 per square foot each month, Nykaa leads the industry in retail store productivity.
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