Nykaa Q4 results: Net profit jumps 188% YoY; revenue up 28%
Nykaa Q4 results: The online fashion retailer on Wednesday reported a 187.5 per cent jump in its consolidated net profit to Rs 6.9 crore during the fourth quarter ended March 2024 (Q4 FY24).
- May 22, 2024,
- Updated May 22, 2024 5:32 PM IST
FSN E-Commerce Ventures, Nykaa's parent, on Wednesday reported a 187.5 per cent jump in its consolidated net profit to Rs 6.9 crore during the fourth quarter ended March 2024 (Q4 FY24). The figure was at Rs 2.4 crore in the year-ago period.
Revenue from operations during the quarter under review increased 28 per cent, year-on-year (YoY), to Rs 1,668 crore from Rs 1,302 crore in the corresponding period last year.
"In Q4 FY24, consolidated GMV grew 32 per cent YoY to Rs 3,217.2 crore, as all the businesses continue to deliver superior performance. We continue to drive improvement in profitability. Q4 FY24 EBITDA stood at Rs 93.3 crore with EBITDA margin at 5.6 per cent," Nykaa said.
"EBITDA margin adjusted for ESOP expenses, new business (GCC operations) and corporate restructuring expenses expanded to 6.7 per cent for the quarter vs 5.5 per cent a year ago. This adjusted EBITDA growth of 56 per cent YoY was driven by direct and indirect costs efficiencies with fulfilment expense and employee expenses witnessing improvement from last few quarters," the company added.
Nykaa also said its beauty business crossed the milestone of $1 billion (Rs 8,340.9 crore) GMV in FY24, up 25 per cent YoY. "The consolidated BPC GMV growth for Q4 FY2024 was 30 per cent YoY, highest growth in the last 6 quarters, with accelerated customer acquisition driving superior order growth. This was a result of superior performance in our core categories of colour cosmetics, skincare and haircare as well as strong offtake of emerging categories such as fragrances and bath & body care," it stated.
The company's board has approved an investment of Rs 20 crore in FSN International, a wholly-owned subsidiary, on a rights basis. Further, FSN Intl will invest around $1.9 million in one of its overseas arm via Nessa International Holdings Ltd.
The quarterly results were declared post market hours today. Shares of the online fashion retailer settled 0.99 per cent higher at Rs 179.05.
FSN E-Commerce Ventures, Nykaa's parent, on Wednesday reported a 187.5 per cent jump in its consolidated net profit to Rs 6.9 crore during the fourth quarter ended March 2024 (Q4 FY24). The figure was at Rs 2.4 crore in the year-ago period.
Revenue from operations during the quarter under review increased 28 per cent, year-on-year (YoY), to Rs 1,668 crore from Rs 1,302 crore in the corresponding period last year.
"In Q4 FY24, consolidated GMV grew 32 per cent YoY to Rs 3,217.2 crore, as all the businesses continue to deliver superior performance. We continue to drive improvement in profitability. Q4 FY24 EBITDA stood at Rs 93.3 crore with EBITDA margin at 5.6 per cent," Nykaa said.
"EBITDA margin adjusted for ESOP expenses, new business (GCC operations) and corporate restructuring expenses expanded to 6.7 per cent for the quarter vs 5.5 per cent a year ago. This adjusted EBITDA growth of 56 per cent YoY was driven by direct and indirect costs efficiencies with fulfilment expense and employee expenses witnessing improvement from last few quarters," the company added.
Nykaa also said its beauty business crossed the milestone of $1 billion (Rs 8,340.9 crore) GMV in FY24, up 25 per cent YoY. "The consolidated BPC GMV growth for Q4 FY2024 was 30 per cent YoY, highest growth in the last 6 quarters, with accelerated customer acquisition driving superior order growth. This was a result of superior performance in our core categories of colour cosmetics, skincare and haircare as well as strong offtake of emerging categories such as fragrances and bath & body care," it stated.
The company's board has approved an investment of Rs 20 crore in FSN International, a wholly-owned subsidiary, on a rights basis. Further, FSN Intl will invest around $1.9 million in one of its overseas arm via Nessa International Holdings Ltd.
The quarterly results were declared post market hours today. Shares of the online fashion retailer settled 0.99 per cent higher at Rs 179.05.