FSN E-Commerce Ventures, Nykaa’s parent company has announced its results for Q4 23. According to report, a net profit drop of 71.8% to 2.4 crores during the quarter ending in March 2023. Last year net profit of 9 crore in the same fiscal was recorded.
The platform saw its income from operations increase by 33.7%, from 973.3 crore to 1,301.7 crore. Revenue for the online beauty platform increased more rapidly year over year in Q4FY23 than in Q3FY23. The BPC division of the corporation saw revenue growth of 26% in Q3FY23.
In the fashion industry, Q1 revenue growth was in the high teens. The fashion industry saw a Q3FY23 increase of 50%.
Compared to the same period last fiscal year, Nykaa’s EBITDA increased 84% to 70.6 crore in the quarter ending in March 2023, from 38.4 crore. During the same time period, quarterly margins were 5.4%.
The company’s total costs increased significantly during the fourth quarter to 1,303 crore from 978.6 crore same time last year.