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Shares of cosmetics-to-fashion platform Nykaa fell as much as 7.4 per cent on Monday after it reported a 96 per cent slump in quarterly net profit, hurt by higher marketing and advertisement expenses.
Falguni Nayar-led FSN E-Commerce Ventures, popularly known by the brand name Nykaa, late on Sunday reported a consolidated net profit of ₹1.17 crore ($157,306.69) for the September quarter, compared with ₹27.47 crore a year earlier.
In its first earnings report following a blockbuster market debut last week, Nykaa's quarterly revenue from operations rose 46.6 per cent to ₹885 crore.
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