On segmental front, the company’s beauty vertical has delivered a robust net revenue as well as net sales value (NSV) growth of mid-twenties, with GMV growth even higher.
“Strong overall performance was seen across omnichannel retail business, owned brands as well as eB2B distribution business, ahead of the festive season. Dot & Key, a new age skincare brand, continues to experience rapid growth, with Nykaa expanding ownership to 90% at the beginning of this financial year,” it added.
The company said that the fashion vertical’s NSV growth is seen at around early teens. The acquisition of LBB, Nykaa’s content platform business, continues to perform well, delivering high growth taking the overall vertical’s revenue growth to early twenties for this quarter.
According to the company, the beauty market in India is experiencing rapid expansion driven by increasing demand, rising per capita income and consumption. The fashion industry is anticipated to follow a similar growth trajectory in the long term. While consumer demand was subdued in the first half of the financial year, there are expectations for a gradual revival in the second half, supported by the festive and wedding seasons.
Nykaa (FSN E-Commerce) is one of India's leading lifestyle-focused consumer technologies platforms. Since its launch, Nykaa expanded its product categories by introducing online platforms Nykaa Fashion, Nykaa Man, and Superstore. Delivering a comprehensive omnichannel e-commerce experience, Nykaa offers over 6,000 brands through its website and mobile applications.
The company reported a consolidated net profit of Rs 13.64 crore in Q1 FY25, steeply higher than Rs 5.42 crore posted in Q1 FY24. Revenue from operations grew at a healthy pace of 23% year on year to Rs 1,746.11 crore in Q1 FY25, in line with last 2 year CAGR.
The scrip fell 0.90% to currently trade at Rs 192.20 on the BSE.