Nykaa gains 6 percent after net profit jumps 363% YoY to Rs 5 crore in Q2FY23
Published On: Tuesday, November 1, 2022 | By: Team KnowMyStock
Shares of Beauty and fashion e-tailer FSN E-Commerce Ventures, which runs Nykaa surged 6.5 percent to Rs 1,233 per share in Tuesday's intra-day trade, after the company's net profit jumped 363 percent year-on-year (YoY) to Rs 5.1 crore in the July-September quarter (Q2FY23) from Rs 1.1 crore in the year-ago period, up more than 330%. The company had reported a profit of ₹5 crores in the previous quarter of June 2022. Its quarterly revenue from operations recorded a 39% YoY increase to Rs 1,230.8 crore, from Rs 890.4 crore in Q2FY22, whereas it was up 7% from ₹1,148.4 crore quarter-on-quarter (QoQ). Total expenses, too, grew 38 percent YoY to Rs 1,228.5 crore in the recently concluded quarter. Total expenses, too, grew 38 percent YoY to Rs 1,228.5 crore in the recently concluded quarter.
During the quarter, we continued to demonstrate strong GMV growth with improvement in gross margin, efficiency in fulfillment and marketing cost lead to improvement in EBITDA margin YoY," Nykaa said in an exchange filing. Further, Nykaa has increased its own physical store count to 124 stores, including two new Fashion stores, with a total area of 1.2 Lacs sq. ft. across 53 cities, as of September 30, 2022. The company's MD and CEO Falguni Nayar said the consumer demand for premium beauty, personal care, and wellness is showing signs of buoyancy as we gear up for a promising H2 FY23."Our focus on curation and discovery in Fashion is evident, as new season merchandise accounted for 24% of Nykaa Fashion GMV; international brands are at 13% of western wear category GMV in Q2 FY23. Repeat buyers in Fashion now contribute 66% of Q2 FY23 GMV, giving us confidence in our product proposition," the billionaire entreprenuer said in a statement.
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