Nykaa Q2 Results: In Q1FY24, the Mumbai-based firm reported a net profit of Rs 5.4 crore and revenues of Rs 1,422 crore.
FSN E-Commerce Ventures, which operates the beauty and personal care (BPC) company Nykaa, increased its net profit by 50% to Rs 7.8 crore in Q2FY24 from Rs 5.2 crore in Q2FY23, driven primarily by its beauty and personal care (BPC) business, which saw strong demand during its flagship sale event in July.
The holiday season is critical for e-commerce companies such as Nykaa and others, which typically run a series of sales leading up to Diwali. While most sales started in Q2 of last year, this year’s sales started a few weeks later. This shift has a base impact on the Q2 FY24 growth to some extent, Nykaa said last month in an exchange filing.
The 50% increase in net profit was accompanied by a 22% increase in revenue from operations, which stood at Rs 1,507 crore in the quarter, up from Rs 1,230.8 crore in the previous year. – Nykaa Q2 Results
In Q1FY24, the Mumbai-based company reported revenues of Rs 1,422 crore and a net profit of Rs 5.4 crore.
Overall, the H1FY24 performance sets up Nykaa well for the year with (the) second half historically witnessing superior consumer demand, Nykaa stated, buoyed by a strong first-half performance.
