FSN E-Commerce Ventures, the operator of online beauty and fashion retailer Nykaa, on November 6 reported a net profit of ₹7.8 crore in the second quarter of fiscal year 2023-24 (Q2FY24). This is 50 percent higher as compared to ₹5.2 crore clocked in the year-ago period.
Sequentially, the net profit increased by 44 percent from ₹5.4 crore reported in the first quarter of the current fiscal.
The company's revenue from operations in Q2FY24 came in at ₹1,507 crore, higher by 22 percent from ₹1,231 crore recorded in the corresponding quarter of the previous fiscal year.
Quarter-on-quarter, the revenue from operations was 6 percent as against ₹1,422 crore reported in Q1FY24.
The total expenses during the quarter under review also increases by 22 percent on-year, as it came in at ₹1,502 crore as compared to ₹1,228 crore in Q2FY23.
Nykaa's total income during the September 2023 quarter came in at ₹1,516 crore, higher by 22.5 percent as against ₹1,237 crore reported in the year-ago period.
The earnings before interest, taxes, depreciation and amortisation (EBITDA) margin “expanded to 5.4 percent for the quarter, a growth of 32 percent YoY on the back of both direct and indirect costs efficiencies", a press release stated.