Beauty retailer Nykaa’s profit in the fourth quarter fell 71% to Rs 2.4 crore, down from Rs 8.5 crore in the year-ago period. Its revenue rose 33% to Rs 1,301 crore in the same period.
The Mumbai-based company’s revenue for fiscal year 2023 grew 36% to Rs 5,143 crore, while profit more than halved to Rs 19.2 crore from Rs 41 crore last year.
Expenses in Q4 shot up to Rs 1,302 crore, a 33% jump from Rs 978 crore in the same quarter last year. In FY23, reported a 36% increase in expenses to Rs 5,135 crore compared to last year.
(This is a developing story and will be updated with more information.)
