The company has expected gross merchandise value (GMV) growth for the quarter to be in the mid-twenties (on a YoY basis).
On segmental front, the company’s beauty vertical revenue growth for the quarter is expected to be around 22-23% YoY. GMV growth is expected to be higher, in the high twenties YoY, in line with long-term BPC (Beauty & Personal Care) industry growth-trajectory. This is despite relatively slower growth in our physical retail business which was impacted by elections as well as heatwaves across North India.
The company said that the fashion vertical revenue is also expected to deliver a healthy performance, with revenue growth of around 20% YoY. GMV growth for the fashion segment is anticipated to be lower at mid-teens YoY. This reflects the ongoing challenges faced by the overall Indian fashion industry, characterized by a muted demand environment. This effect was further amplified during this seasonally weak quarter due to limited weddings and festivities.
“The overall Fashion industry in India continues to face challenges with a muted demand environment. The growth was further impacted in this seasonally weak quarter due to limited weddings and festivities. Within this context,” the company stated in regulatory filing.
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.
FSN E-Commerce Ventures (Nykaa) reported consolidated net profit of Rs 90.71 crore in Q4 FY24, steeply higher than Rs 22.75 crore posted in Q4 FY23. Revenue from operations jumped 28% to Rs 1,667.98 crore in Q4 FY24 as compared with Rs 1,307.72 crore in Q4 FY23.
The scrip rose 0.76% to currently trade at Rs 178.60 on the BSE.