Nykaa’s consolidated net profit falls 57.65% YoY in Q4

• ByStartupStory     |    May 28, 2022

Nykaa, an FSN E-commerce venture has recorded a 57.65% drop in consolidated net profit to 7.5 Cr in the fourth quarter of the fiscal year ending in March 2022, compared to Rs 17.9 crore the previous year.

The company recorded a 33 percent drop in profit after tax for the fiscal year (FY22) to Rs 41.29 crore from Rs 61.65 crore the previous year (FY21).

 The Mumbai-based firm’s overall income dropped sequentially to Rs 984.4 crore for the quarter ended March 31, compared to Rs 1,104.2 crore in the previous fiscal quarter.  Revenue increased every year, Rs 744.9 crore in the quarter ended March 31, 2021. From Rs 2,452.6 crore in FY21 to Rs 3,800.9 crore in FY22, revenue has increased by 54% to Rs 3,800.9 crore.

Anchit Nayar -the chief executive of beauty Ecommerce at Nykaa stated “All our verticals are growing well. The three main categories of makeup, skincare, and haircare are growing at 40%, 50%, and 60% year on year, The core businesses are growing at a healthy clip, despite the broader challenges”.

Founded in 2012, by Falguni Nayar, the firm had a spectacular public market listing in November, with gross merchandise value (GMV) increasing by 71 percent over the previous year to Rs 6,933.2 crore. The beauty and personal care category had a GMV of approximately Rs 4,998.7 crore, which represents a 49 percent increase year by year.

CEO Falguni Nayar quoted that “On a consolidated basis, fashion has gone from being 16% of the total GMV to 25% of GMV now”

For FY22, the company’s fashion vertical’s GMV has increased by 168 percent year on year to Rs 1,700 crore. Last month, the firm has acquired and financed beauty and personal care firms like Earth Rhythm, Nudge Wellness, and Kica.

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