Nykaa PAT Declines 71% In Q3; Revenue Grows 33%

Digitally native lifestyle retailer FSN E-Commerce Ventures Limited (Nykaa) on Monday reported 71 per cent decrease in its Profit After Tax (PAT) to Rs 8.49 crore in Q3 FY23 from Rs 29.02 crore in Q3 FY22. But the company’s revenue from operations has grown by 33 per cent to Rs 1,462.83 crore during the quarter.

For the quarter ended 31 December 2022, Nykaa’s gross profit grew 25 per cent year-on-year (YoY) to Rs 634.70 crore. The company’s EBITDA was up 13 per cent YoY at Rs 78.20 crore. 

The company mentioned in its quarterly report that its GMV increased 37 per cent to Rs 2,796 crore in Q3. Its Beauty and Personal Care (BPC) segment recorded 26 per cent YoY rise in GMV to Rs 1,901.4 crore in Q3 FY23.

Meanwhile, Nykaa’s total expenses in the Q3 FY23 rose 36 per cent YoY to Rs 1,456 crore.

The company’s profit before tax in Q3 FY23 stood at Rs 12.67 crore, down by 66 per cent from Rs 36.98 crore in Q3 FY22.

In a statement, Falguni Nayar, Executive Chairperson, MD, and CEO, said, “The business has delivered consistent strong GMV and revenue growth at 37 per cent YoY and 33 per cent YoY respectively. The performance has been especially good given the backdrop of eight fewer festive days in Q3FY23, compared to Q3FY22. Especially heartening is the rebound of Nykaa Fashion, that has delivered a GMV and revenue growth of 50 per cent YoY and 43 per cent YoY respectively. Fashion now contributes to 25.9 per cent of GMV, and 14.6 per cent at NSV level. Other business led by the SuperStore, our e-B2B initiative now contributes to 6.1 per cent of the GMV from 2.4 per cent in Q3FY22.