FSN E-Commerce Ventures, the parent company of Nykaa, reported a 71 per cent fall in its consolidated profit to ₹8.4 core in the third quarter compared with ₹29 crore posted in the year-ago period.
Operating revenue was up 33 per cent to ₹1,462.8 crore (₹1,098 crore).
Commenting on the performnace, Falguni Nayar, Executive Chairperson, MD and CEO, said: “The business has delivered consistent strong GMV and revenue growth at 37 per cent y-o-y and 33 per cent y-o-y, respectively. The performance has been especially good given the backdrop of eight fewer festive days in Q3 FY23, compared to Q3 FY22.”
“Our accelerated investments in new beauty store rollout this year has seen us add 14 stores in Q3, taking the total store count to 135 stores and making us the largest beauty specialist retailer in India,” she added.