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Published
May 27, 2022
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Nykaa sees net profit drop 49% year-on-year in FY22 Q4

Published
May 27, 2022

Multi-brand, omni-channel beauty and fashion retailer Nykaa saw its net profit decrease year-on-year by 49% in the fourth quarter of the 2022 financial year as demand rose only slightly and expenses increased. 

Nykaa has seen marketing costs dampen profits - Nykaa- Facebook


For the fourth quarter which ended on March 31, Nykaa’s net profit stood at Rs 8.56 crore, the business reported in a regulatory filing on May 27, the Economic Times reported. This figure is a significant dip from its profit of Rs 16.88 crore for the same quarter a year before.
 
Despite the drop in profit, Nykaa’s revenue from operations rose from Rs 741 crore in the fourth quarter of the 2021 financial year to Rs 973 crore in the fourth quarter of the 2022 fiscal. During the quarter, Nykaa made a number of large launches, including debuting private label ethnic wear brand Likha on Nykaa Fashion. The business also opened its 100th store in Bengaluru as well as a number of other brick-and-mortar outlets. 

Nykaa’s parent company FSN E-Commerce Ventures Limited has seen declining profits in the three financial quarters following its initial public offering, ET Bureau reported. The business has citied high marketing costs as a major reason for this, especially as its marketing costs were lower than usual in the 2020 calendar year due to the pandemic. 
 

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