FSN E-Commerce Ventures, the parent company of Nykaa, posted a 72 percent fall in consolidated net profit at Rs 2.41 crore for the quarter ended March 31, 2023 (Q4FY23). It was Rs 8.56 crore in the corresponding quarter of last fiscal. Ahead of the results, Nykaa stock closed percent 2.61 lower at Rs 125.05 apiece on NSE. The scrip has lost 20 percent of its market value year-to-date.

Share Market Live

NSE

The online beauty platform's revenue from operations, meanwhile, surged percent 34 year-on-year (YoY) to Rs 1,301 crore for the quarter under review, as compared to Rs 973 crore in year-ago quarter.

ALSO READ: Federal Bank shares drop, report suggests lender picks banks for Rs 4,000 cr fund raising

The company's total expenses surged percent to Rs 1,303 crore during the fourth quarter as against Rs 978.6 crore in the last year period.

The company reported an EBITDA (earnings before interest, tax, depreciation and amortisation) of Rs 70.6 crore for the March quarter, which is up 84 percent over the previous year's quarter, led by operating leverage. Meanwhile, margins during the quarter came in at 5.4 percent.

The online beauty platform's Business Planning and Consolidation (BPC) business has seen higher on-year growth rates in Q4FY23 versus Q3FY23. The company's BPC business grew 26 percent in Q3FY23.

ALSO READ: FDI into India falls for the first time in a decade

Consumer pullback in discretionary spends has had some impact on the company's fashion business. Fashion business revenue growth in the quarter under review seen in the late teens. Fashion Biz rose 50 percent in Q3FY23.

The firm will host a conference call for analyst and institutional investors for discussing its financial results for the quarter and financial year at 6 pm later in the day.

First Published:May 24, 2023 4:19 PM IST