SUMMARY
Nykaa’s consolidated net profit also jumped 123.7% on a quarter-on-quarter (QoQ) basis from INR 7.8 Cr
Operating revenue grew 22% to INR 1,788.8 Cr in Q3 FY24 from INR 1,462.8 Cr in Q3 FY23
Nykaa said its EBITDA margin expanded to 5.5% during Q3 FY24, while EBITDA rose 26% year-on-year (YoY) to INR 98.8 Cr
Beauty and fashion ecommerce major Nykaa’s consolidated net profit more than doubled to INR 17.4 Cr in the December quarter (Q3) of the financial year 2023-24 (FY24) from INR 8.5 Cr in the year-ago quarter, helped by a steady improvement in its fashion business in the festival season.
Net profit also jumped 123.7% on a quarter-on-quarter (QoQ) basis from INR 7.8 Cr in the prior fiscal – Q2 FY24.
Operating revenue grew 22% to INR 1,788.8 Cr in the reported quarter from INR 1,462.8 Cr posted in Q3 FY23.
The company said its EBITDA margin expanded to 5.5% during Q3 FY24, while EBITDA rose 26% year-on-year (YoY) to INR 98.8 Cr due to direct and indirect cost efficiencies.
In a statement, Nykaa said it rolled out an ESOP grant for critical and top talent across the organisation levels during the quarter, which is now reflecting in its employee expenses. Adjusted for ESOP and new business expenses, the company’s EBITDA margin would have been 6.1%.
Overall, the business witnessed a 29% YoY jump in gross merchandise value (GMV) to INR 3,619.4 Cr in Q3 FY2024.
The company said its consolidated GMV in beauty and personal care (BPC) segment witnessed a growth of 25% YoY. Meanwhile, Nykaa fashion vertical’s GMV jumped 40% YoY.
“Our fashion business is showing consistent improvement in profitability, reflecting our platform strength and quality of our customers,” said Nykaa.
Contribution margin as a percentage to net sales value (NSV) for Nykaa Fashion improved by 510 bps and stood at 6% in Q3 FY24 as against 0.9% in the last year’s quarter.
