Kaya Limited posts net loss of Rs 9.5 crore for Q2
Oct 25, 2019
Kaya Limited’s revenue for the second quarter declined 6 percent to Rs 101 crore ($14.3 million) over the corresponding quarter last fiscal.
The company’s net loss for the July-September quarter also widened to Rs 9.5 crore from Rs 2 crore it had reported in the year-ago period.
Kaya performed well in the domestic market despite the slowdown in the economy and liquidity crunch reporting a three percent revenue growth. The product business and e-commerce reported revenue growth of 16 percent and 90 percent respectively.
The company’s international business, however, declined by 14 percent over the last year resulting in the overall decline in revenue.
The company’s EBITDA for the quarter stood at Rs 14 crore as compared to Rs 4 crore for the corresponding quarter in the previous year.
Kaya was launched by Marico’s founder Harsh Mariwala in 2002 as a skincare brand. Kaya currently has around 120 clinics in India and the Middle East and also sells its beauty products through 500 retail outlets across India.
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