Nykaa Q2 Results: FSN E-Commerce Ventures Ltd, which runs online fashion retailer Nykaa, on Tuesday reported a 333 per cent jump in September-quarter net profit, boosted by strong demand for its products ahead of the festive season.
Its quarterly revenue from operations recorded a 39 per cent YoY increase to Rs 1,230.8 crore.
In an exchange filing, Nykaa said its EBITDA improved to Rs 61 crore vs Rs 28.8 crore in the year-ago period. Its consolidated margin also improved to 4.9 per cent against 3.3 per cent on a YoY basis.
Further, Nykaa has increased its own physical store count to 124 stores, including two new Fashion stores, with a total area of 1.2 Lacs sq. ft. across 53 cities, as of September 30, 2022.
“Our online and offline presence in Beauty has delivered strong growth with improving margins. Consumer demand for premium beauty, personal care and wellness is showing signs of buoyancy as we gear up for a promising H2 FY23. Our focus on curation and discovery in Fashion is evident, as new season merchandise accounted for 24% of Nykaa Fashion GMV; international brands are at 13 per cent of western wear category GMV in Q2 FY23. Digital marketing costs for the fashion business are slightly higher than during covid period, resulting in marketing costs sustaining at Q2 FY22 levels,” said Falguni Nayar, Executive Chairperson, MD, and CEO.
Earlier this month, Nykaa announced that its board has approved the issuance of bonus equity shares of the company in the ratio of 1:5 i.e., the company will issue bonus of 5 shares for every 1 share held as on the record date. The company has revised its record date for the purpose of determining members eligible for bonus equity shares to November 11, 2022.
“We refer to our letter dated October 03, 2022 regarding issue of Bonus Equity Shares of the Company in the ratio of 5 (Five) fully paid-up Equity Shares of Rs 1/- each for every 1 (One) fully paid-up Equity Share of Rs 1/- each, subject to approval of shareholders by way of Postal Ballot and inform that pursuant to Regulation 42 of SEBI Listing Regulations, the Board of the Company has fixed Friday, November 11, 2022 as the ‘Record Date’ for the purpose of determining the members eligible for Bonus Equity Shares,” the company informed the exchanges.
Having slumped over 52 per cent from its 52-week high at Rs 2,574, shares of Nykaa were trading 4.5 per cent higher at the stock exchanges in intraday trade after the announcement of the results.
Nykaa’s pre-IPO lock-in period shall expire on November 9. Around 67 percent or 31.9 crore shares of Nykaa are likely to open for trade on the lock-in expiry day.
Nykaa was founded by Falguni Nayar in 2012. The shares of the Mumbai-based company were listed on NSE and BSE on November 10 last year at Rs 2001, a premium of 77.87 per cent. Nykaa IPO was subscribed 81.78 times and the price band was fixed at Rs 1,085-1,125 per share.
Read all the Latest Business News here
Comments
0 comment