Beauty and fashion FSN E-Commerce Ventures, which operates under the Nykaa brand, on Monday reported a 71 percent year-on-year (YoY) decline in net profit at Rs 8.1 crore for the third quarter that ended December 31, 2022. In the corresponding quarter last year, the company posted a net profit of Rs 28 crore.

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In the December quarter, total revenue stood at Rs 1,462.8 crore during the period under review, up 33.2 percent against Rs 1,098.3 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA increased 13.5 percent to Rs 78.2 crore in the third quarter of this fiscal over Rs 68.9 crore in the corresponding period in the previous fiscal.

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EBITDA margin stood at 5.4 percent in the reporting quarter as compared to 6.3 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation and amortization.

Also, FSN E-Commerce Ventures announced its board approval to appoint Sujeet Jain as company secretary and compliance officer in addition to his role as a chief legal and regulatory officer at Nykaa. With this expanded remit, Sujeet becomes a key managerial personnel (KMP) of the company starting from February 14, 2023.

Sujeet joined Nykaa in January 2023 to further strengthen the company’s legal, regulatory, and governance frameworks. He is a qualified lawyer, company secretary, cost accountant, and MBA holder, with over 25 years of experience in telecom, media & technology (TMT), cement, and diversified sectors in leadership and senior management roles.

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Prior to Nykaa, Sujeet was the chief legal officer with UltraTech Cement, an Aditya Birla company. At UltraTech he led crucial legal and regulatory decisions, and managed acquisitions and critical corporate transactions in India and overseas. Before UltraTech, Sujeet was associated with Viacom18 Media as Group General Counsel and company secretary.

(Edited by : Pradeep John)

First Published:Feb 13, 2023 6:25 PM IST