Nykaa Q4 Results: Net Profit Surge To Rs 9 Crore, Revenue Soars 28%
The Falguni Nayar-led company recorded a revenue of Rs 1,789 crore and a profit of Rs 17 crore in the previous quarter (Q3FY24)
Nykaa, operated by FSN E-Commerce Ventures, reported a significant increase in net profit and revenue for the quarter ending March 31, 2024. The company posted a net profit of Rs 9 crore, a substantial rise from Rs 2 crore in the same period last year, driven by improved customer acquisition and higher platform conversions. Revenue for the quarter reached Rs 1,668 crore, up 28 per cent from Rs 1,302 crore year-on-year, according to media reports.
The Falguni Nayar-led company recorded a revenue of Rs 1,789 crore and a profit of Rs 17 crore in the previous quarter (Q3FY24). For the entire FY24, Nykaa's revenue from operations grew by 24 per cent year-on-year to Rs 6,386 crore, while net profit surged by 90 per cent to Rs 40 crore.
Despite facing growing competition from Reliance Retail’s Tira and Walmart-owned Myntra, Nykaa's beauty and personal care (BPC) division continues to outperform the industry, as noted in an April update to the stock exchanges. Analysts highlight that Myntra has recently made significant strides in the BPC market, with 19% of surveyed users indicating a preference for purchasing BPC products on Myntra, as per media reports.
