Nykaa Q1 Earnings: Nykaa, listed as FSN E-Commerce Ventures Ltd., reported a notable rise in its net profit for the quarter ended June 2024, with earnings nearly tripling to Rs 13.64 crore, compared to Rs 5.42 crore in the same period last year. The company’s revenue from operations also saw strong growth, rising 23 per cent year-on-year to Rs 1,746 crore, up from Rs 1,421.82 crore in Q1FY24.
Earnings before interest, tax, depreciation and amortisation (EBITDA) rose over 30 per cent to Rs 96 crore, compared with Rs 73 crore a year earlier. EBITDA margin improved by 34 basis points, rising to 5.5 per cent from 5.2 per cent year-on-year.
Nykaa also announced plans to acquire an additional 39 per cent stake in Dot & Key Wellness for Rs 265 crore. The acquisition, which is expected to be completed by September 30, 2024, will increase Nykaa’s stake in Dot & Key to 90 per cent, ensuring that the company remains a subsidiary.
Dot & Key Wellness is engaged in the business of purchasing, exporting, selling and distributing a wide range of products including pharmaceuticals, cosmetics, beauty, health and skin care items through various channels including e-commerce.
Despite the strong quarterly results, Nykaa shares closed 3.39 per cent lower at Rs 188 on Tuesday. The stock has gained over 9 per cent so far this year.
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