Nykaa Q3 results: On Wednesday, online fashion and beauty shop Nykaa Ltd reported a profit of Rs28 million for the quarter of December.
Last year, a 59% decrease in the Rs69 crore was hit by rising costs and declining demand for personal care and fashion products. As a result, profits after tax have doubled from ₹ 12 crores reported in the last half of September.
Nykaa Q3 results:
Employee revenue increased by 36% to ₹ 1,098 crores in the reporting quarter compared to ₹ 808 crores corresponding quarter of last year. On Wednesday, Nykaa shares fell 0.70% to close by ₹ 1,848.90 each on the NSE. In the past month, the fund has dropped by about 8%.
Nykaa clothing retailer reported a 59 percent drop in total quarterly profits, driven by rising costs and low demand for personal care and fashion products.
In its second revenue report since its inception in the market last year, parent company Nykaa FSN E-Commerce Ventures Ltd said total costs have risen by 46.8% per annum to Rs 1,067 crore, including significant reductions in employee benefits.
Nykaa in November posted a 96% decline in quarterly profits in its first post-IPO report.
“Our last quarter has been described as a milestone in the company’s journey through successful IPOs and stock market registrations.
We continue to grow slowly in the Beauty and Fashion business, with a total profit of 65% over nine months each year,”
Nykaa said. And CEO. -MD Falguni Nayar.
Nykaa Annual Report:
The cost of the beauty company increased by 47% to ₹ 1,067 crores in the December quarter compared to ₹ 727 crores last year. Combined GMV (sale value) grew by 26% respectively and by 49% per annum reached R2,043 million in the third quarter, supported by solid performance metrics.
In Beauty and Personal Care (BPC), GMV increased by 32% per annum to R1,533 crore, while the same in the fashion category decreased by 137% per annum to Rs510 crore in the third quarter review.
He said that the sale continues to be a source of investment for Nykaa, hiring and hiring new buyers to ensure a stable environment. The development of the Beauty business is increasing in the common area of Covid, with a strong revival in the cosmetics industry.
Our mobile network also became one of its most potent, and we continued to open new stores in line with our great omnichannel vision.
Revenue from market resources increased by 154% per annum in Q3 FY22, mainly driven by the growth of GMV fashion. At the same time, revenue from advertising grew by 53% year on year during the same period of product acquisition in advertising.
The company’s EBITDA (pre-interest earnings, taxes, depreciation, and deductions) was Rs69 million per quarter, with annual contracts up to 6.3% due to high marketing costs.
The average monthly visit to BPC vertically grew by 39% per year to 22 million, while in fashion, it increased by 120% per year to 16.4 million per quarter in the third quarter.
The overall Fashion portfolio grew with the introduction of new international brands and the expansion of Nykaa, Naykd, and RSVP products, through strategic collaboration, added Falguni Nayar.
While still a growing business in the Nykaa ecosystem, fashion now offers 26% of the combined annual GMV to date. It has seen strong growth in all revenue metrics, which has increased the acquisition of new customers during the year.
Nykaa has accelerated the expansion of the store this quarter, with 12 new stores nationwide, including stores in Tier 2/3 cities such as Jodhpur, Rajkot, Trivandrum. The total number of active corporate stores was 96 as of December 31, 2021, in 45 cities.
The company ensures timely access and delivery to customers across the country. Expand the warehouse by 1.35 lakh square meters during Q3’s FY22. Nykaa remains one of the few for-profit businesses in India, part of a growing consumer network.
Analysts expected it to be the biggest news story of the next decade’s growth. However, it needs to provide a continuous supply of bottles to justify market excitement.
Edited By- Subbuthai Padma
Published By- Satheesh Kumar