Nykaa posts Q2 net profit of Rs 1 crore
FSN E-Commerce Ventures Ltd, which operates e-commerce beauty company Nykaa, reported a net profit of Rs 1 crore ($100,266) for the quarter ended in September 2021, as against a net profit of Rs 27 crore in the year-ago period.
The company’s revenue for the quarter rose by 47 percent to Rs 885 crore, as against a revenue of Rs 604 crore it reported in the corresponding period of the previous fiscal year.
“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 Falguni Nayar said in a statement.
Nayar 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 the expansion of retail stores and fulfillment capacity ahead of the festive season. The acquisition of the skincare brand, Dot & Key marks a significant step towards Nykaa’s owned brands strategy. The company has launched the Nykaa eB2B app – Nykaa Superstore. The business will be an area of focus for the quarters to come,” she added.
During the quarter, Nykaa opened eight new stores in Gwalior, Kochi, Mysore, and Ranchi to take its store count to 84 across India.
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