FSN E-Commerce Ventures Limited (Nykaa) reported a 51 per cent increase in consolidated net profit to ₹26.41 crore for the quarter ended December 31, 2024, compared to ₹17.45 crore in the same quarter last year. The company’s revenue from operations grew 26.7 per cent to ₹2,267.21 crore, primarily driven by strong performance in its beauty segment.
The beauty segment, which includes Nykaa’s online platform, owned brands, and physical retail stores, contributed ₹2,060.01 crore to the quarterly revenue. However, the fashion segment reported a loss of ₹25.41 crore during the quarter.
The company’s total expenses increased to ₹2,228.18 crore from ₹1,769.89 crore year-on-year, with significant rises in finance costs and employee benefits expenses. Finance costs rose to ₹31.93 crore from ₹21.84 crore in the corresponding quarter.
In a significant development, Nykaa acquired an additional stake in Earth Rhythm Private Limited for ₹39.50 crore on November 26, 2024, increasing its holding to 74.63 per cent equity interest, including Optionally Convertible Redeemable Preference Shares.
The shares of FSN E-Commerce Ventures Limited closed on the NSE on Monday at ₹170.52 down by ₹2.94 or 1.69 per cent.
Overall, Nykaa met or exceeded expectations on operational metrics but fell short on revenue and notably on net profit.
