Nykaa Stock Q2 results: Compared to ₹1,231 crore during the same period last year, the company’s operating revenue was ₹1,507 crore.
The company that runs the online beauty and fashion store Nykaa, FSN E-Commerce Ventures, said on November 6 that its second quarter fiscal year 2023–24 (Q2FY24) brought in a consolidated net profit of ₹7.8 crore. This represents a 50% increase over the ₹5.2 crore recorded during the same period last year. Comparatively speaking, the net profit climbed by 44% from the ₹5.4 crore recorded in the current fiscal year’s first quarter.
In Q2 FY24, the company’s operating revenue of ₹1,507 crore was above the ₹1,231 crore achieved in the comparable quarter of the previous fiscal year by a margin of 22%. Compared to the ₹1,422 crore reported in Q1 FY24, the revenue from operations increased by 6% from quarter to quarter.
The overall costs for the quarter under review were ₹1,502 crore as opposed to ₹1,228 crore in Q2FY23, a 22 percent year-over-year rise. Nykaa recorded total income of ₹1,516 crore for the September 2023 quarter, which is 22.5 percent more than the ₹1,237 crore reported for the same period last year. According to a press statement, “both direct and indirect cost efficiencies drove the earnings before interest, taxes, depreciation, and amortization (EBITDA) margin, which expanded to 5.4 percent for the quarter, a growth of 32 percent YoY.”
Nykaa reported that its fashion business’s consolidated revenue from operations reached ₹130.5 crore in Q2 FY24, indicating a 28% year-over-year increase.“Our fashion business continues to scale with improving profitability. The contribution margin as a percentage to NSV (net sales value) for Nykaa Fashion was 4.7 percent in Q2 FY24 vs. 2.3 percent in Q2 FY23, supported by improvements in our pre-delivery leakages and marketing expenses,” it stated.
“New businesses” of Nykaa, which comprises the superstores maintained by the company, recorded NSV of ₹98.6 crore during the second quarter, “growing at 105 percent on a YoY basis”, the release noted. Prior to the announcement of Q2FY24 financial results, Nykaa’s stock price increased. The share closed at ₹147.45 per share on the BSE, up 5.06 percent from the finish of the previous day.
Frequently asked questions
What is the outcome of Nykaa?
Nykaa Q1 Results: Revenue increases 24% while net profit increases 8% YoY to Rs 5.4 crore. Comparing the first quarter of this year to the same quarter last year, revenue from operations increased by 24% to Rs 1,422 crore.
Is Nykaa profitable?
In the same quarter last year, the startup reported a net profit of INR 5 Cr. In the meantime, earnings increased by 138% from INR 2.3 Cr in Q4 FY23, the previous quarter. Operating revenue for the Falguni Nayar-led company increased to INR 1,421.8 Cr in Q1 FY24 from INR 1,148.4 Cr in the same quarter of the previous fiscal year.
Why is Nykaa failing?
Issue of Bonus Interests: In an effort to keep investors in the company and keep them from dumping their interests, Nykaa announced the issuance of bonus shares in November of last year. Investor trust in the stock was severely damaged by the company’s action, and it has been declining ever since.
Who is the owner of Nykaa?
Born on February 19, 1963, Falguni Sanjay Nayar is an Indian millionaire businesswoman. She is the CEO and creator of Nykaa, a beauty and lifestyle retail company. Previously, the company was known as FSN E-Commerce Ventures, an acronym for her own name.
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