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Nykaa net profit falls to Rs 1.2 cr in Q2

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The company, which was listed on the BSE on November 10, had logged a net profit of Rs 27 crore in the same quarter last year.

Nykaa net profit falls to Rs 1.2 cr in Q2
FSN E-Commerce Ventures Ltd, which operates e-commerce beauty company Nykaa, on Sunday said its net profit stood at Rs 1.2 crore for the quarter ended in September 2021. The company, which was listed on the BSE on November 10, had logged a net profit of Rs 27 crore in the July-September 2020 quarter, FSN said in a regulatory filing.
Its revenue from operations, on the other hand, grew 47 per cent to Rs 885.3 crore in the quarter under review from Rs 603.8 crore in the September 2020 quarter. "We have maintained growth momentum in our beauty business, accelerated our fashion business and focused on building the brand Nykaa with strong marketing campaigns both digitally and mass media," Nykaa Executive Chairperson, MD and CEO Falguni Nayar said.
She added that increased marketing spends has led to an acceleration of customer acquisition, which is also evident in the unique visitor and transacting customer metrics. "The company continues to invest in expansion of retail stores and fulfilment capacity ahead of the festive season," she said, adding that the acquisition of the skincare brand, Dot & Key marks a significant step towards Nykaa's owned brands strategy. Nayar highlighted that the company has launched the Nykaa eB2B app - Nykaa Superstore. "The business will be an area of focus for the quarters to come. On the fashion side, we have launched a brand, Gajra Gang, in the large and promising Indian wear space," she added.
According to the filing, Nykaa's Beauty and Personal Care GMV (gross merchandise value) grew by 38 per cent year-on-year to reach Rs 1,185.9 crore, while Fashion GMV grew by 215 per cent y-o-y to reach Rs 437 crore. Fashion GMV contribution to consolidated GMV increased to 27 per cent compared to 14 per cent in the second quarter of FY21.
The monthly average unique visitors increased to 21 million with y-o-y growth of 62 per cent in the Beauty and Personal Care vertical and to 16 million with y-o-y growth of 328 per cent in the Fashion vertical. Annual unique transacting customers reached 7.2 million with y-o-y growth of 40 per cent in the Beauty and Personal Care vertical, and 1.3 million with 417 per cent y-o-y growth in the Fashion vertical. The company said it has accelerated store expansion this quarter, with eight new physical retail stores across the country including stores in Gwalior, Kochi, Mysore and Ranchi. Its total operational physical stores were 84 as of September 30, 2021.
Nykaa has also expanded warehouse storage space by 0.37 lakh square feet during the second quarter of FY22, which resulted in total warehouse space of 6.65 lakh square feet as of September 30, 2021. FSN E-Commerce Ventures had made a stellar debut on Dalal Street with its shares closing with a huge premium of over 96 per cent against the issue price of Rs 1,125 on November 10. The stock debuted at Rs 2,001 apiece, reflecting a jump of 77.86 per cent on the BSE. Then, the scrip zoomed 99.83 per cent to Rs 2,248.10 during the day before closing at Rs 2,206.70. The closing price is 96.15 per cent higher than the issue price. On Friday, FSN E-Commerce Ventures Ltd shares had closed at Rs 2,358.90, up 6.44 per cent from the previous close on the BSE.
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