FSN E-Commerce Ventures: Nykaa income grew 47% to Rs 885 crore for September quarter as earnings declined

Nykaa noticed a 63% year- on-year and 10% sequential progress in gross merchandise worth (GMV) for the quarter ended September 30, FSN E-Commerce Ventures Ltd, the mother or father entity of the newly listed magnificence e-tailer, stated in regulatory filings late on Sunday.

The corporate’s whole GMV stood at Rs 1,622.9 crore for the quarter towards Rs 997.1 crore in the identical interval final 12 months. GMV in ecommerce means the worth of whole items offered on a platform, together with reductions however excluding returns.

Nykaa’s consolidated income from operations grew 47% yoy to Rs 885.30 crore. Sequentially, the income progress price was 8%, it stated in inventory alternate filings.

For the half 12 months, income rose 91% to Rs 1,702.3 crore.

Earnings earlier than curiosity, tax, depreciation and amortisation (Ebitda) dropped 48% to Rs 28.8 crore for the second quarter, from Rs 55 crore in the identical interval final 12 months.

Nykaa’s founder and CEO
Falguni Nayar advised ET in an interview to ET final week that the corporate would proceed to deal with progress throughout magnificence and vogue companies.

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“It’s a multi-year journey and we consider that over the following 5 years we are going to proceed to develop each our magnificence and vogue companies multi-fold. Equally,
the home of manufacturers may even proceed to develop, as we grow to be extra like a client firm which has a variety of manufacturers inside its fold. We’re additionally establishing our e-B2B (business-to-business) vertical — the Tremendous Retailer the place we are going to promote magnificence to retailers,” Nayar had stated.

Internet revenue for the Mumbai-based firm fell to Rs 1.2 crore towards Rs 27 crore within the corresponding interval.

The style enterprise grew 295% 12 months on 12 months to Rs 11.5 crore, towards Rs 2.9 crore. Whereas the revenues from the wonder enterprise got here in at Rs 22 crore towards Rs 17.1 crore within the year-ago interval, clocking a 29% progress.

On a quarter-on-quarter foundation, progress stood at 3% for its magnificence enterprise and 16% for vogue, the filings confirmed.

Nykaa, hit the Indian inventory exchanges on November 10 in what was a bumper debut for the Mumbai-based agency.
Nykaa’s market cap went previous Rs 1 lakh crore after the inventory began buying and selling at practically 80% premium to its difficulty value of Rs 1,125.

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