New Delhi, Nov 6 (IANS) Online beauty and fashion e-commerce major Nykaa registered Rs 7.8 crore in net profit in the second quarter of the current financial year, up from over Rs 5.1 crore in the same period last year.
FSN E-Commerce Ventures, the parent company of Nykaa, saw a 22 per cent increase in revenue from operations at Rs 1,507 crore in Q2 FY24, up from Rs 1,230 crore in the same quarter last year.
Nykaa’s stock closed nearly 5 per cent up at Rs 147.45 on Monday.
This year, the festive sales were delayed by a few weeks which “has a base impact on the Q2 FY24 growth to some extent”, according to the company.
“Overall, the H1FY24 performance sets up Nykaa well for the year with (the) second half historically witnessing superior consumer demand,” said the company.
The total expenses were Rs 1,502 crore in Q2FY24, up 22 per cent from Rs 1,229 crore in the same period last year. The company had registered a net profit of Rs 5.4 crore and revenues of Rs 1,422 crore in Q1FY24. Nykaa’s revenue from the operations was Rs 1,421.8 crore for the first quarter (Q1FY24), as compared to Rs 1,148.4 crore for the corresponding period a year ago which was a growth of 24 per cent.
–IANS
na/pgh
