Cosmetics and fashion marketplace Nykaa on Tuesday posted a 120% rise in quarterly profit after tax, helped by strong performance of its beauty and international segment.
FSN E-Commerce Venture, the parent company behind Nykaa, clocked profit after tax of Rs 14.24 crore as compared Rs 6.45 crore in 2023, according to regulatory filings made with the BSE.
The Falguni Nayar-led company posted a 23% growth in operating revenue to Rs 1,746 crore from Rs 1,422 crore reported in the comparable period a year ago.
This is in line with the company’s expectation of 22%-23% revenue growth in April-June quarter as mentioned in previous filing with the exchange.
In a separate filing, Nykaa also announced further acquistion of a 39% stake in Dot & Key Wellness Private Limited from the existing shareholders for consideration of up to Rs 265.3 crore.
It also announced further investment in Earth Rhythm Private Limited for a consideration of up to Rs 44.5 crore. Nykaa expects to close both the acquisitions by the end of September 2024, following which, Earth Rhythm will be incorporated as a subsidiary of the company.
