Beauty retailer
‘s net profit for the October-December quarter fell 71% to Rs 8.5 crore, from Rs 29 crore in the year-ago period.The Falguni Nayar-led ecommerce firm logged a revenue of Rs 1,463 crore, up 33% from the same period last year, in line with analysts’ estimates. Revenue from operations rose 18% to Rs 1,462.8 crore compared to the previous quarter.
Nykaa’s total expenses in the third quarter rose 36% year-on-year to Rs 1,456 crore. The increase in employee benefits, depreciation, and other expenses led to a fall in the EBITDA margin, which is a measure of the company’s operating profit as a percentage of its revenue.
The Mumbai-based firm’s gross merchandise value (GMV) across its various segments grew 37% to Rs 2796 crore compared to last year. The beauty and personal care (BPC) segment, Nykaa’s largest revenue generator, saw a 26% rise in GMV to Rs 1,901 crore, while the fashion segment grew 50% to Rs 724.4 crore.
GMV refers to the value of all goods and services sold over a period of time.
The BPC segment’s monthly active users witnessed a 22% YoY increase to 24.2 million. Nykaa Fashion saw monthly active users rise by 18% YoY to 19.4 million.
Nykaa Pink Friday Sale 2022 achieved a 40% YoY GMV growth, the company said in a statement.
“The business has delivered consistent strong GMV and revenue growth. The performance has been especially good given the backdrop of eight fewer festive days in Q3FY23, compared to Q3FY22,” Falguni Nayar, MD and CEO of Nykaa, said.
Fashion now contributes to 25.9% of GMV. Other business led by the SuperStore, Nykaa’s B2B initiative now contributes to 6.1% of the GMV from 2.4% in Q3FY22, the company added.
On Monday, Nykaa’s shares fell 2.68% to close at Rs 150.55 ahead of the Q3 results.
(This story was updated with additional details.)