FSN E-Commerce Ventures, the parent company of online beauty e-commerce platform Nykaa, on Wednesday reported consolidated net profit of Rs 29.01 crore in the December quarter, which is 57.87 per cent lower than the Rs 68.88 crore profit reported in the same period last year.
The company’s net profits fell on account of higher expenses of Rs 1,067 crore, compared to Rs 726.8 crore in Q3 FY21.
Executive Chairperson, MD, and CEO, Falguni Nayar, said: “Our previous quarter was defined by a milestone moment in the company’s journey with a successful IPO and listing on the stock exchanges. We continue to be on a steady growth trajectory across both Beauty and Fashion businesses, with overall revenue growth of 65 per cent for the nine-month period year-on-year.”
Fashion, while still an early-stage business in the Nykaa ecosystem, contributes 26 per cent of the consolidated GMV year to date, she explained. “It has witnessed robust growth across revenue metrics, boosted by the acquisition of new customers in the year so far. The overall Fashion portfolio grew with the launch of new international brands as well as the expansion of Nykaa’s owned brands, Nykd and RSVP, through strategic collaborations.”